On Thursday, Nasdaq trend-up all day, on its second up-leg towards resistance. Key level for Friday is Thursday's closing price 2813.50.
-- Above 2813.50 area/zone implies the current uptrend is still in progress, next target is 2826 resistance. Failure to mount a sustained break above could result in ABC pullback down or trend reversal down.
-- Opening below 2813.50 area/zone implies current uptrend has ended and it is in consolidation mode, target FT Pivot. As long as Pivot is not clearly violated, look for the market to rally back up. However, a clear and sustained break below FTP could lead to a sell-off down to next support, 2787 area.
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