A large selloff in the equity market on Thursday. NQ opened with a large gap-up, but selling commenced immediately and continued into the close. The closing price for NQ was just above key support of 4800.
Amazon's earning misses announced after the market was closed on Thursday could have a strong negative influence for trading on Friday. A break below 4800 is likely to trigger an avalanche of sell orders, the next support is 4700. However, with the Fed not willing to let the market selloff before the November presidential election, look for 4800 support level to be well defended.
On the 5-minute time frame, key price inflection level will be at 4840, with strong resistance at 4860 and strong support at 4800.
Amazon misses on earnings, stock down 5%
