Thursday, July 12, 2012

Trade Guideline for Friday

On Thursday, NQ opened gap-down and trend down in the morning, down to POC (support) from June 28, and then reversed all the way back up to resistance zone. For Friday, expecting consolidation as long as it can stay above key level.

Key Level for Friday is 2525.
--> Above 2525 implies consolidation with resistance at 2550, 2560, 2570
--> Below 2525 is bearish, downside target is a re-test of Thursday swing low. Double -bottom support is 2500.

Upper VA = 2548.50
POC         = 2541.50
Lower VA = 2530.50