Thursday, February 3, 2011

Guideline for Friday


Employment report, which has the potential to move the market quite substantially, will be released before the market opens on Friday. The opening price will be a key level to watch for in the morning. 


A gap-up above Thursday's high can cause a trending-up day targeting 2345 - 2355 area. A gap-down below FT Pivot would imply the trend is likely down.

I will use the FT Pivot 2314.50 as key Line-in-the-Sand, bullish above, bearish below.