Wednesday, December 26, 2012

Trade Guideline For Thursday

On Wednesday, NQ opened and quickly dropped down to key support at 2620 before consolidating and closing just below 2640 broken support now resistance.

2620 is a very important support for NQ. 
-- A clear and sustained break below could potentially trigger a cascade of selling, with the next support way down at 2560 then 2490.
-- If it can stay above 2620 NQ would either continue to go sideways or rally, with resistance at 2640 then 2660.