Wednesday, October 9, 2013

Guideline For Thursday

After making a lower low on Wednesday, NQ consolidated the rest of the day. Once consolidation ends, it should trend back down again. Whether or not consolidated has ended on Wednesday only time will tell.

Key level for Thursday is 3130.
-- A clear and sustained break below 3130 implies NQ is ready to trend back down.
-- Above 3130 is an indication that NQ is still in a pullback mode, with upside target at 3160 area.

Janet Yelling was appointed as the next Fed Chairperson