Thursday, August 7, 2014

Guideline For Friday

NQ opened with a gap-up but failed to break above resistance, then trend down all day, down to support before rally back up for the end of day profit-taking rally. 

Strong supports at 3830 - 3840 area.
-- Staying above 3830-3840 area implies sideways consolidation or rally day with first resistance at 3870 then 3890.
-- A clear break below 3830 could trigger strong algo selling, next support is 3800.