Sunday, April 21, 2013

Trade Guideline For NQ on Monday

An up-trending day on Friday, with a trend-up morning and consolidation pullback afternoon into the close.

If Monday is another up day then price should stay above equilibrium price level 2770, with or without a gap-up open.
Below 2770 implies NQ is going into a larger consolidation, with first support at 2750, the Thursday swing low, or another trending down day if it can break and stay below below Thursday swing low. Staying above Thursday swing low implies consolidation trading range type of day.