As expected the market chop around on Thursday as it traded sideways in a vary narrow range all day long. Any attempted selling seems to continue to be bought by the Fed just to hold the market up for the presidential election.
The choppy pattern should continue on Friday as long as the market stays above major support, and for NQ that major support is 4800.
Important short term balance price level for NQ on Friday remains at 4865.
-- Selling should remains under control with NQ trading above 4865, likely staying in a choppy mode unless they trigger large buy programs for the weekend.
-- There might be some selling below 4865, but as long as 4800 support is not violated, selling should continue to be bought.
