Thursday, October 3, 2019

NQ Guideline For Friday

NQ bounced sharply on Thursday after dropping down to its key 200-day moving average on the daily chart in the morning.
 
NQ then closed just above key resistance of 7650. If it can stay above 7650 on Friday it could trigger more short-covering rally, with the next strong resistance at 7800.
 
Trading back below 7650 implies consolidation with the next support at 7550. It is also possible for NQ to have a very strong one day bounce off the key 200-dma.