Tuesday, July 9, 2013

Trade Guideline For Wednesday

The uptrend continued on Tuesday with profit-taking decline at the end of the day. If the end of the day decline continues in the morning look for key support at 2965. A clear break below 2965 implies a larger correction is in progress. 

If 2965 support hold, look for NQ to trend back up to higher-high above Tuesday's swing high

If NQ open with a gap-up above Tuesday's high look for a gap-close trade or a fat morning rally to 3000.