Wednesday, May 25, 2016

NQ Guideline For Thursday

Following a gap-up open on Wednesday, without any new buyers NQ simply traded sideways below 4500 resistance, in a narrow range pattern, in a very low volume condition.
 
For Thursday key price level to gauge trend direction will be 4500 resistance.
-- Failure to clearly break above 4500 could bring in some selling, first support is 4440 then 4400.
-- If they can get NQ to break and stay above 4500 short-term algos could be persuaded to buy.