Sunday, November 18, 2012

Trade Guideline For Monday

A pullback day on Friday after making a lower briefly breaking below 2500 support. Monday is likely another pullback day unless it breaks back below Friday's low.

Key Level for Monday is Friday's Swing High.
-- Above Friday high has the potential to trigger short-covering rally, next 2570-2580.
-- Below 2540 implies consolidation, with support at Friday's swing low. It would need to clearly break and stay below Friday low to trigger another round of liquidation, target 2450