Thursday, May 7, 2020

NQ Guideline For Friday

On Thursday NQ opened with a gap-up above prior swing high, then successfully retested the breakout level before trending back up again.
 
NQ remained above the breakout price level, 9030 all day setting up a likely bullish day for Friday. With NQ trading way above Thursday swing high, NQ should continue to be bullish as long as it can continue to stay above Thursday swing high.
 
A break below Thursday swing high will be bearish, with key support at 9030.
 
Friday employment report is likely to determine the direction of Friday trend.
Weak US employment report raises red flag on economy