Wednesday, November 14, 2012

Trade Guideline For Thursday

At the close on Wednesday:
Daily Trend = Down
60-minute trend = Down
5-Minute Trend = Down

On Wednesday NQ either continue down to the next support at 2500 or consolidate between Wednesday low and first resistance at 2550. 

-- Sustained break below Wednesday low could trigger another round of liquidation decline, targeting 2500.
-- Above Wednesday low implies consolidation.