Thursday, October 27, 2011

Trade Guideline for Friday (NQ)

Large gap-up open on Thursday with a close near the high of the day. With the S&P closing at key inflection point, the market is either going to rocket up on Friday or pullback down.
For Friday I will use 2400 as key Line-in-the-Sand.
  • Above 2400 implies more rally on Friday, targeting a rally up to 2440.
  • Below 2400 target a decline down to 2360.