Following ECB's QE announcement NQ quickly rallied up to resistance, after failing to make a higher-high above yesterday high, quickly reversed back down crashing below support and closing near the day low, making Thursday a second down-day in a row.
It is likely the top is in, and pullback is in progress. If so, NQ should continue to decline, first breaking below support on the daily chart which is at 4055, down to 4020.
Key price level for NQ on Friday is 4083.
-- As long as rally can stay below 4085 NQ should resume its selloff, next support is 4055 then 4020.
-- Breaking back above 4085 is likely to trigger a short-covering rally, targeting the recent swing high.
