Thursday, March 19, 2015

NQ Guideline For Friday

As expected, with NQ not able to break above 4430 key resistance on Thursday it went into sideways narrow-range consolidation day, typical after a large-range up-day on Wednesday.

Once consolidation has ended, the uptrend should resume. Whether or not NQ would resume its uptrend on Friday will depends on if it can break and stay above 4430 key resistance.

Failure to break and stay above 4430 is an indication that consolidation is still in progress, and that NQ may go into a larger consolidation / pullback down, with lower support at 4385.