Wednesday, October 8, 2014
Guideline For Thursday
After trending down in the morning on Wednesday, massive buy programs most likely engineered by the FED, designed to panic short-sellers, rocketed NQ upward, breaking through 2 resistance levels before stalling at double-top with Monday swing high.
Whether or not most of the short-sellers has covered it is difficult to say, but it seems many had covered in panic on Wednesday, so unless real buyers can show up on Thursday NQ can fall back down again.
Key price level for Thursday is 4020.
-- As long as any pullback down does not clearly violate 4020 support the uptrend that started on Wednesday is still alive, the next resistance is going to be 4050 then 4065.