Tuesday, October 22, 2013

Guideline For Wednesday

After making a higher high in the morning and then tanked, NQ spent the rest of the day trading sideways, forming a bear flag. If so it should lead to another down-leg on Wednesday.

Key level to watch for on Wednesday is 3358.
-- Below 3358 is bearish, and an indication the bear flag is going to lead to another downleg, with the next support at 3335, then 3300.
-- Bullish above 3358, and implies a potential higher high is coming, with NQ resistance at 3390 - 3400.