Thursday, July 16, 2015

NQ Guideline For Friday

NQ opened with a gap-up above quadruple-top high and stayed above it, triggered short-covering rally that lasted all day long with a close at the high of the day.

Key price level is now quadruple-top prior resistance 4550, now turned into support.
-- As long as NQ can stay above 4550 short-covering should continue with the next upside target at 4625, 4650hen 4700.
-- Breaking back below 4550 should trigger algo sell programs