Tuesday, October 16, 2012

Trade Guideline For Wednesday (NQ)

Nasdaq opened with a gap-up and then trend-up all day on Tuesday, completing a very clean 5-wave rally which started at the low of the day on Monday, with a profit-taking decline at the end of the day to start off first reversal leg, wave 1 or A.  

Resistances are 2775, 2780, 2790
Supports are 2760, 2745-47, 2728

FT Pivot numbers For Wednesday area:
FTP = 2759.75
R1 = 2783.25
S1 = 2742

As European Union leaders prepare for a summit next week devoted to saving the euro, Swedish Finance Minister Anders Borg said Greece may quit the common currency within the next six months