Important level coming up on NQ 1967.00

9/16/2010

Two things in this post:

1. Today was a good example of a false blue bar break down. Notice how we got blue bars at the low and then that low was taken out. Unless the market makes a certain pattern off that low we are not looking to short going into that low (after the blue bar low) or to short as it breaks that low. The odds are that even if it breaks lower it will then find support very soon and reverse back up and that is what happened today.

2. The NQ is coming into a very important level. The NQ is up 11.25 points after hours. We are watching the 1967 level very closely as that could be a very important level for resistance.

Happy Trading,

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