Thursday, January 11, 2018

NQ Guideline For Friday

On Thursday NQ opened above the short term inflection price level which was 6680, then after spending the entire morning trading sideways in a very narrow range just above 6680, they eventually were above to rally NQ up into another higher high in the afternoon, but it was a real struggle, without much momentum.
 
Inflection price level for NQ on Friday will be 6707.
-- If NQ can stay above 6707 by the opening bell, it has a good chance of rallying into another higher high as sellers may not be very active above 6707
-- Trading back below 6707 however implies a likely sideways consolidation price action with first support at 6680.