After making another all time higher high on Wednesday NQ traded sideways all day Wednesday and all day on Thursday, but stayed above breakout price level (above prior high 3595).
The longer NQ does not continue to trend higher, the more vulnerable it will be to profit-taking decline, which if it breaks below key support level, could trigger a series of algorithm sell programs, so it is very important for NQ to starts trending back up again the sooner the better, otherwise profit-taking could set in.
Support/Resistance price level for NQ on Friday is still 3595, but key support for NQ is 3585.
-- NQ remains in a bullish mode above 3595, implies NQ should continue to either trade sideways or trend up.
-- NQ will be in a bearish mode below 3595, but it needs to clearly break below 3585 to attract strong selling.
