Thursday, June 26, 2014

Guideline for Friday

NQ sold off hard soon after the open on Thursday, then rallied in a slow and choppy pattern the rest of the day, much like Wednesday.

At the end of the day on Thursday, NQ looks ready to pullback down again, so unless NQ can break above Tuesday high and stay above Tuesday swing high, it is going back down to 3800.

A break below 3800 could trigger some momentum algo sell programs targeting a break below Thursday swing low.

Since Friday tends to be a choppy sideways pattern looks for tomorrow to be a choppy sideways pattern.