Thursday, April 16, 2015

NQ Guideline For Friday

A very narrow-range choppy sideways price action for NQ on Thursday, stuck between 4430 resistance and 4400 support, which will serve as key price levels for NQ on Friday.

A sustained break out of the 4400-4430 price range is likely to trigger a trending move out of the range in the direction of the break. However, because Friday tends to be a choppy non-trending type of day, be aware of a potential false breakout, where a breakout is sharply reversed.

S&P 500 Snapshot: A Two-Day Rally was snapped on Thursday