Thursday, November 21, 2013
Guideline For Friday
A gap-up and trend up day for NQ on Thursday, the high bumping against resistance, and the closing price was just below the day high - bullish momentum going into the close.
Keep in mind that Friday is usually a bullish day, and as long as NQ does not clearly break below key support, it should continue to rally up to the next resistance -- a gap-up open or an early morning pullback to support and then rally into the close.
Inflection Price Level For NQ on Friday = 3395, key support = 3385.
-- Above 3395 is an indication NQ will try to rally up to the next resistance, if it can break above 3405 or gap-up open above 3405. Next resistance and target is 3420. It would need a very bullish market internals to break above 3420.
-- Breaking below 3395 is in indication that NQ is going to consolidate prior to rallying up to the next resistance 33420, assuming that it can break through resistance at 3405.
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