Wednesday, December 19, 2012

Trade Guideline For Thursday

Nasdaq consolidated just above broken resistance now-support 2690, which is key support level for Thursday. 
-- A break below 2690 implies consolidation/pullback is still in progress with supports at 2680 then 2655.
-- A break-back above 2705 implies consolidation/pullback has ended, and the next round of short-covering rally is in progress, targeting 2740, then 2770.