Thursday, January 3, 2013

Trade Guideline For Friday

Nasdaq completed Wave 5 up early afternoon then decline into the close, wave A of an ABC correction down. Once completed, rally should resume, as long as key support 2695 is not clearly breached. 

Supports are 2720, 2710 and 2695. 2695 is a strong support level, hence a break could tank NQ down to close Wednesday's gap 2665.