NQ opened with a gap-up and then ran-up all day, breaking above the high on the daily chart, but by just a slight amount. Whether or not the shorts will cover on Friday, which would imply a fast move upward, only time will tell, and it will depends on where NQ trades in relation to key price level for Friday.
Key price level for NQ on Friday will be the recent swing high of November 2014 at a price of 4345 area.
-- Trading above 4345 on Friday has the potential to trigger short-covering rally or spike.
-- Trading below 4345 is an indication NQ is going into a pullback mode, first support is 4320 area. Should 4320 is violated, the lower support comes in at 4300.
