Wednesday, July 22, 2015

NQ Guideline For Thursday

A huge gap-down for NQ on Wednesday but then spend the rest of the day consolidating the huge gap. Wednesday was the second pullback-down day, so Thursday could either be a rally day or a rally up to 4655 resistance and then sell-off, making it a sell-off day.

As long as NQ can stay above 4600 it should rally up towards 4655 key resistance.
-- Failure to break above 4655 resistance could send NQ back down to 4600 support, and if that support is violated, NQ should come down to test breakout level now support at 4550.
-- Breaking above 4655 could trigger short-covering rally.