The equity market tried to rally but a sharp selloff in the price of crude oil dragged the market down with in. Several attempts to rally the stock market failed as market forces continued to overwhelmed the buy programs. Crude oil will continue to be the main driver of equity market direction on Friday.
Key inflection price zone for NQ on Friday will be 4150.
-- NQ is bullish above 4150 but it has to clearly break above 4200 to trigger some short-covering rally, and crude oil should also be in a rally mode.
-- Bearish below 4150 with first support at 4100. A bearish crude oil could tank the stock market hard.
