Trade Guideline For Monday

The US Fiscal Cliff discussion should continue to dominate the financial news and the market on Monday. Although the discussion is just a distraction strategy designed to hide the real issue of unsustainable debt level, traders and the Fed will use it as an excuse to trigger buy and sell programs, hence can exacerbate the momentum of the moves.

Key Level For Monday is 2620.
-- Below 2620 NQ is in a downtrend, and staying below 2600 could trigger another round of sell algorithm that could cause a fast liquidation decline, next support is 2560.
-- Above 2600 implies potential pullback up to 2620. It needs a clear and sustained break above 2620 to trigger a short-covering rally.

Fiscal Cliff Sideshow continues