After making a new high at the beginning of December the Dow has not gone much anywhere. It has been trading sideways in a narrow range, look ready to dropped down hard.
Attempted selloff on Thursday was met with massive buy programs, but selling is likely to overwhelm buyers unless they come in with overwhelming buying power.
They managed to keep NQ rally going on Thursday, with NQ closing near the day high. With Friday normally a sideways choppy day look for NQ to be choppy unless big algo buy programs backed by free money hit the stock market.
The 5-minute time frame support for NQ on Friday will be 4940.
-- Trading above 4940 would keep selling mostly under control.
-- Breaking below 4940 could trigger some selling, next support is 4920 then 4900.
Sears is closing 150 stores
Sears announced a second wave of store closures on Wednesday, bringing the total number of closures scheduled for early 2017 to 150.
