Wednesday, July 17, 2013

Trade Guideline For Thursday

Another higher high before pulling back down to consolidate, another narrow range day. The pattern of higher high then consolidation should continue as long as it can stay above key support, which for Thursday will be 3062.50.

Below 3062.50 implies NQ is going into a larger pullback down, next support is 3050.

Ben Bernanke's testimony on Wednesday did not move the market.