Thursday, June 7, 2012

Trade Guideline For Friday In NQ

NQ opened gap-up to 2370 resistance on Thursday and then drop down all day in a choppy sideways consolidation mode down to support. Whether that is enough pullback for the next upleg depends on where it trades in relation to key level on Friday.

For Friday, Key Level is 2535.
  • Above 2535 implies the pullback had ended and the next leg up is in progress, targeting 2580, 2600 and 2620.
  • Below 2535 implies it is still in a retracement mode, target down 2500 then 2490.