Thursday, February 5, 2015

NQ Guideline For Friday

Thursday was a choppy narrow-range choppy up-day for NQ with the day high bumping up into 4250 resistance, which will serve as key resistance price level for NQ on Friday.

If NQ could not break clear above 4250, it is likely going into a pullback-down mode. If so, support is at 4200.

If NQ can clearly break above 4250, NQ is likely going to trigger another round of short-covering rally, with the next resistance at 4280.

Keep in mind that Friday tends to be a choppy sideways consolidation type of day.
Crude oil price will continue to be a big influence on the equity market trend direction.