Thursday, August 16, 2012

Trade Guideline For Friday

A gap-up and trend-up day on Thursday with some profit-taking pullback at the end of the day. 

Key Level for Friday is 2765.
-- Above 2765 implies another trending up move with first target up above Thursday high. A sustained break above Thursday swing high target a potential quick rally up to 2800.
-- Below 2765 implies NQ is in consolidation/pullback mode target 2755-2760.  A clear break below target re-test of breakout level 2743.

FT Pivot = 2758.50,
R1 = 2779,
S1 = 2743.25

Value Area High = 2773.75
Point of Control = 2763.75
Value Area Low = 2754.75

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economic collapse