Sunday, June 4, 2017
NQ Guideline For Monday
Because of a mediocre job report on Friday, massive buy programs that started soon after the open continued all day into the close making Friday a large up-trending day, which is not normal for Friday.
Normally after a large trending up day where the close is right at the high of the day, it is often followed by a consolidation day. But current market are heavily controlled and manipulated by central banks, so anything is possible.
So, on Monday, without central banks intervention the market including NQ should trade sideways in a choppy consolidation pattern.
Key price level for NQ on Monday will be Friday's swing high, now a resistance level.
Normally after a large trending up day where the close is right at the high of the day, it is often followed by a consolidation day. But current market are heavily controlled and manipulated by central banks, so anything is possible.
So, on Monday, without central banks intervention the market including NQ should trade sideways in a choppy consolidation pattern.
Key price level for NQ on Monday will be Friday's swing high, now a resistance level.