Thursday, November 15, 2018

NQ Guideline For Friday

On Thursday massive intervention by the PPT prevented a market meltdown. The rally was huge, and it has broken above key 200-period moving average on the 5-minute chart.
 
The 200-ma is now at 6830 at Thursday closing, and will serve as our key line-in-the-sand on Friday
-- As long as NQ can stay above 6830 on Friday the rally should continue with the next upside resistance at 6965. 
-- Breaking back below 6830 is going to bring back sellers,  and could tank NQ back down.