Thursday, May 5, 2011

Trade Guideline for Friday (NQ)

Bearish close on Thursday, and a fourth consecutive down days. I will use 2381 as Line-in-the-Sand for Friday.
  • Below 2381 I am looking for NQ to decline down to 2357 area. If market internals are extreme I will look for a decline down to 2340 area before finding some support.
  • Above 2381 I will look for NQ to rally up to 2402. If market internals are extreme bullish, I will look for it to rally up to 2410.