Tuesday, October 1, 2013

Guideline For Wednesday

A trending up day on Tuesday for NQ with a close near the day high. Depending on where it opens and trade in the morning on Wednesday, NQ either continue to rally up or pullback down and consolidates.

Key level for Wednesday is 3240.
-- Above 3240 implies NQ is continuing up right away to the next target, 3265-3270 zone before consolidating.
-- Below 3240 implies it is going into a consolidation mode target down move to 3420-3430. Though not expected (but with the fiscal cliff debate continuing anything can happen), below 3420 implies a decline down to the next support 3200-3205