Thursday, November 17, 2011

Trade Guideline for Friday (NQ)

Markets continue to sell-off on Thursday morning breaking down below several support levels down to 2260. It consolidated the whole afternoon setting up a trending move for Friday.

Key level for Friday is 2270.
  • Below 2270 implies another trending down move down to the next support level of 2200.
  • Above 2270 implies NQ is in a pullback move targeting 2280, then 2300. If it can break 2300 then the next upside target is 2330