Thursday, May 22, 2014

Guideline For Friday

On Thursday the market rallied all day with just a small profit-taking decline at the close. Although we should always expect the unexpected, with most traders out of the office for the long weekend, look for a choppy and narrow-range day on Friday.

Inflection price level for Friday is 3655.
-- More short-covering rally above 3655.
-- NQ is going into pullback mode below 3655. Support levels are 3640 then 3625.