Wednesday, September 9, 2015

NQ Guidelien For Thursday

On Wednesday the market opened with a gap-up but sold off immediately, the selling lasted all day and into the close which could set up a follow-up selling on Thursday unless of course NQ can trade back above Wednesday high.

-- As long as NQ remains below Wednesday swing high selling pressure should continue with next support at 4200 then 4100.
-- Trading back above Wednesday high is likely to trigger more short-covering rally, next resistance is 4440.