Thursday, September 20, 2012

Trade Guideline For Friday

Nasdaq opened gap-down then reversed back up closing near the day high. key resistance is now Wednesday swing high. Failure to break above implies it is going down towards Thursday's swing low. 

Key Level for Friday is 2850. 
-- Above 2850 implies the bias is up, targeting Wednesday's swing high and/or reversal zone.
-- Below 2850 implies the next downtrend is in progress, targeting a break below Thursday's swing low. Supports are 2835, then 2825

FT Pivot Levels
FT Pivot = 2849.75
R1 = 2862.25
S1 = 2841.75