Thursday, December 10, 2015
NQ Guideline For Friday
NQ consolidated sideways on Thursday remaining inside prior day trading range. With the the daily chart in a bearish mode NQ would need to clearly break and stay above 4670 to change the bias to from bearish to bullish.
Key price level for NQ on Friday will again be 4630.
-- Bearish below but it needs to break below 4600 to trigger selling algos and tank the market down. Staying above 4600 implies another sideways consolidation type of day
-- NQ will be in a neutral mode above 4630, but a break above 4670 is likely to trigger short-covering rally.
The price of crude oil price remains a major influence on the equity market.