Tuesday, May 7, 2013

Trade Guideline For Wednesday

Another sideways consolidation day for NQ on Tuesday, trading above key support 2936. 

For Wednesday, 2936 is still key support level.
-- Trading above 2936 is bullish, implies more consolidation or a trend up day.
-- A clear and sustained break below 2936 could trigger selling algorithm, potentially crushing NQ down to the next support level at 2910, a strong support zone. It would need a very strong momentum move down to break below 2910 area.