On Thursday, Nasdaq opened near prior day close, but quickly rallied above 3000 support/resistance level, triggering short-covering rally that lasted all day except for the end of day profit-taking decline into the close.
For Friday, the key Level for NQ will be 3020.
-- As long as price stays below 3020, the bias is down, with support at 3007, 2995 and 2980. Friday tends to be choppy and trade sideways inside a trading range as options traders square their books. But as always, be on the lookout for extreme market internals for signs of a strong trending move, up or down.
-- With price trading and pushing above 3020, stops may starts to get hit, triggering short-covering rally, with resistance at 3037.
