Another bearish day in the market on Thursday with NQ selling off right from the opening bell into the close, down to strong support zone. As long as NQ remains below 4400 price level, selling pressure should continue to dominate the market.
NQ has now traded back up in after hour globex trading, central banks using Greece as an excuse for them to buy the market during thin overnight trading session. Where it opens and trade on Friday morning will be key for trend direction
Key price level for NQ on Friday will be 4400.
-- A sustained break above 4400 is likely to trigger some profit-taking short-covering rally with 4440 as strong resistance zone, and a break above 4440 should propel NQ up to 4470.
-- Below 4400 sellers should return with first target down is triple-bottom level at 4335 area, with lower support price level at 4325 and 4300.
After Greece submitted their new proposal to the Troika S&P Futures rallied.
