A profit-taking pullback down day for the equity market on Friday. Whether or not pullback down move has ended on Friday will depends on where it trades in relation to its short-term inflection price level on Monday.
For NQ, key inflection price level on Monday will be 4860.
-- Trading above 4860 is an indication NQ pullback down move has ended, and that it is resuming its uptrend again.
-- Trading below 4860 implies pullback is still in progress, and the next support is 4830 area, a critical support area where NQ should resumes its rally. A clear violation of 4830 support is bearish as it could bring in heavy selling activities.
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