Trade Guideline For Wednesday

Nasdaq continued to rally, making another new higher high on Tuesday, in a snail pace. Support for Wednesday is 2805.

Above 2805 implies Tuesday's afternoon pullback has ended, and NQ should make another higher high. Below 2805 implies pullback is still in progress withe the next support at 2795, and then 2785.

Cyprus Finance Minister Resigned

BIS is coordinating plans to expropriate bank depositors

Expropriating large depositors at troublesome banks is now international policy coordinated by the Bank for International Settlements, GoldMoney's Alasdair Macleod writes today, and while distribution of one's deposits to preserve coverage by government deposit insurance may provide some protection, in the end any wealth held in the international banking system is vulnerable.

"That the BIS feels it has been necessary to co-ordinate G20 nations into a common approach to bank rescues using uninsured non-monetary and financial institutions' deposits is evidence that bank failures capable of threatening the global financial system are definitely an ongoing risk,"