Sunday, June 16, 2013

Trade Guideline For Monday (September Contract)

On Friday NQ opened at Thursday's close and rallied to re-test Thursday's high before reversing back down and trend down all day. 

Key level on Monday morning is 2940
-- Downtrend should continue below 2940, with support at 2925, 2900 - 2905.
-- Above 2940 implies Friday's downtrend may have ended, but it has to clearly break above 2947.50 to trigger  short-covering rally, with resistance coming in at 2965, then 2980, 3000