Thursday, April 26, 2012

Trade Guideline For Friday (NQ)

NQ traded sideways in the morning on Thursday but stayed above key Support/Resistance Level 2700, then rallied up in the afternoon on short-covering rally. 

Friday is likely a consolidation day, possibly pulling back down to 2700 support, trading between 2730 resistance and 2700 support. However, a sustained break out of the range could cause a trending move in the direction of the break.