Thursday, May 7, 2015

NQ Guideline For Friday

Late day rally on Wednesday continued Thursday morning but then traded sideways in the afternoon, setting up either another rally day on Friday or a down day, depending on where it trades in relation to its key price inflection level.

Key price inflection level for NQ on Friday will be 4400.
-- Bullish above 4400, and the rally should continue to the next resistance level, either to 4425 or 4437.
-- Below 4400, we could see sellers coming back that could tank NQ down to supports 4370 then 4345.