Monday, November 5, 2012

Trade Guideline For Tuesday

An inside day on Monday for Nasdaq, basically trading sideways in a pullback mode.

Key Level For Tuesday is 2655.
-- A sustained break below 2655 implies it is likely to re-test Friday's swing low again. A clear break has the potential to trigger a liquidation decline if stop-loss resting just below Friday low get hit.
--- Pullback that can stay above 2655 implies more short-covering rally, next target up is a re-test of Friday high.