Thursday, July 10, 2014

Guideline For Friday

On Thursday NQ opened with a huge gap-down, right down to major support zone, a combination of prior swing high - turned support on the 60-minute chart and also on the daily chart, and the 20-moving average support on the daily chart.

NQ swiftly rallied all the way back up to a gap-close resistance before pulling back down to support, then rallied back up into the close.

On Friday key price level is 3875.
-- Bullish above 3875 with resistance at 3890.
-- Bearish below 3875 with support at 3865 and 3845.

The market needs to have extreme internals to break through support and resistance.