Sunday, September 8, 2013

Monday's Guideline - NQ

NQ closed in the middle of Friday's trading range, right at the equilibrium level. The direction of the morning trend will depends on where it opens and trades in relation to the equilibrium level soon after the open.

Equilibrium Level is 3130, 
-- Resistance is 3150,  
-- Support is 3100.
-- Trading Range = 3100 - 3150.

It would need a clear and sustained break out of the range to trigger a trending move in the direction of the break. If not, it will breakout and reverse.

US strikes on Syria will continue to strongly influence the market.