30 Minutes into Friday

By Lawrence

Be warned that NDX and NQ are making new high for the year.

Both gap up so far that at 50% of their gaps, they would be retracing into the current year high zone established back in April / May.

NDX tested that high once couple of days ago. Statistically, NDX does not retrace back under previously established year high if it is gapped through within several days from the first test.

So, NQ is not likely going to fill the gap completely today and is very likely to close at the high zone of the day.

Relatively weak is ES which is more likely to make a run down to expand its range to average daily range when NQ tests its 50% gap level.