Thursday, May 28, 2015

NQ Guideline For Friday

Following a large rally on Wednesday NQ traded was in a consolidation mode on Thursday as it traded sideways in a anrrow trading range. Once consolidation has ended NQ should rally up to a higher-high.

Key inflection price level for NQ on Friday will be 4540.
-- Staying above 4540 is an indication that consolidation has ended and the next upleg is in progress.
-- Breaking back below 4540 implies consolidation is still in progress, supports are 4525 and then 4503.