Nasdaq consolidated sideways on Thursday inside a very narrow trading range following a sharp and large rally on Wednesday after the FOMC announcement of NO tapering.
Daily trend is up but it may be ready for some kind of a pullback down to support in the morning before rallying back up. Friday is usually a range-bound day, the morning trend will depends on where it trades soon after the open in relation to its key price level.
Key price level for Friday is 3231.
-- Above 3231 has a bullish bias with the upside target at 3250 - 3260, as long as it can break and stay above Thursday swing high.
-- Bearish bias below 3231 with downside target at 3200.
