Nasdaq was being dragged down by a large decline in the share price of Apple computer which ended down over $63 per share. The 5-min and the 60-min trend in NQ is currently down with its daily chart forming a bearish head & Shoulder pattern. Unless it can rally and make a new high above September 2012 swing high the bearish H&S pattern will remain intact.
Key Level For Friday is 2720.
-- Above 2720 implies it is going to rally up with first resistance at 2735.
-- Below 2720 implies it is going for another leg down, with first support at 2700.
