Thursday, October 11, 2018

NQ Guideline For Friday

NQ rallied in the morning, then sell-off then rallied again into the close, creating a doji day on the daily chart.
 
On Friday, NQ either crash or consolidate sideways similar to Tuesday price action, as it will depends on where the Dow trades in relation to its key 200-dma daily. Dow breaking its 200-dma could crash the market. Dow bouncing off 200-dma could cause rally or consolidation.
 
Key resistance for NQ on Friday will be 7112 the 200-dma daily now acting as resistance. May cause some short-covering above it, but strong selling pressure below it.