Thursday, May 1, 2014

Guideline For Friday

On Thursday, after rallying up to resistance and making another higher-high  in the morning NQ spent the rest of the day pulling back down to support, making Thursday a neutral "pause" day. 

Key inflection price level to watch for on Friday is 3590
-- Bullish above 3590, it should trigger another round of short-covering rally, next upside target is 3620.
-- Bearish below 3590 but NQ would need to break below Thursday's swing low to trigger algorithm selll programs. If so, supports are 3560, 3540.