Tuesday, October 9, 2012
Trade Guideline For Wednesday
On Tuesday, as expected, trading below key support level resulted in a large-range down day. For Wednesday, depending on where NQ trades at, it is either going to be another large-range down day or sideways consolidation day or pullback-up day.
Key Level for Wednesday is 2730 support.
-- A sustained break below 2730 support could trigger a very large down day, as the next support for NQ is not until 2650, but first target down is 2700, then 2650.
-- Above 2730 implies sideways consolidation day or a pullback-up day, with upside resistances at 2760, 2775