Monday, November 26, 2012

Trade Guideline For Tuesday

Short-covering continued on Monday breaking above 2640 resistance level. 

For Tuesday, short-covering should continue above 2640, with next resistance zone at 2655 - 2665 area.  Below 2640 implies it is going into a pullback mode, with first downside target at 2625.

A clear and sustained break below 2625 has the potential to tank NQ down to the next support level, 2600.