Thursday, January 26, 2012

Trade Guideline for Friday (NQ)

Thursday was a reversal day with the open near the day high and close near the day low. Key inflection point for Friday is 2450.
  • Below 2450 implies a potential follow-through down day, targeting a break below Thursday swing low, with first support zone at 2435-2437 area.
  • Above 2450 implies a rally to first resistance at 2460. A clear break above 2460 implies a potential re-test of Thursday's swing high.
The Fed confirmed that they will keep shortterm interest rate near zero percent until mid 2014 via more currency creation.