Wednesday, January 22, 2014

Guideline For Thursday

Uptrend continued on Wednesday with NQ making another higher-high, but started to consolidate sideways in the afternoon, staying above 3620 support.

For Wednesday, as long as 3620 support hold NQ should resume its uptrend, target a higher high. A clear break below 3620 however, implies it is going to drop down to lower support level before running back up again.

Next support is 3610 support. As long as it does not clearly break below 3610 NQ should resume its uptrend, target a higher high.

Breaking below 3610 is an indication that NQ is going down to the next support zone, 3600