Thursday, June 13, 2013

Trade Guideline For Friday

On Thursday NQ opened and promptly reversed back up above 2930 key level, triggered short-covering rally that lasted all day, closing near the day high.

Key Level for Friday is 2950. 
-- Without a clear and sustained break below 2950, the uptrend that started on Thursday is still intact. A continual push higher should continue to trigger more short-covering rally, with resistance at 2970 then 2985.  A clear break above 2985 should trigger a massive short-covering rally or spike.
-- Below 2950 implies the trend has ended and that it is either going into a pullback consolidation mode down or a reversal back down. Supports are 2930 and 2910.

Bradley Model Turning Forecast for 2013
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