Thursday, April 23, 2020

NQ Guideline For Friday

Although NQ daily trend is currently up, the rally could stall if S&P 500 and the Dow are not able to break above their key moving average, the 50-day moving average, as both indices are currently still bumping up again the 50-dma, now acting as resistance.
 
On the intraday timeframe, key Line-In-The-Sand for NQ on Friday will 8620
-- Trading below 8620 implies downtrend to the next support, first support at 8535, then 8250
-- trading above 8620 implies rally back to test the Thursday swing high