On Thursday NQ opened below key inflection price level, 5390, then traded all the way down to key support which was previous consolidation high 5355-5360, a key resistance price level that was eventually broken on Wednesday, and got retested on Thursday.
A reaction to the retest of breakout price level 5355-5360 is key to determining the direction of the next leg.
-- A break below, or an opening below 5355 on Friday is an indication NQ is going down to the next support, which is, the gap-close price level at 5332 for NQ. If that support does not hold, the next support will be the consolidation low at 5307.
-- Trading above 5355 implies a potential rally up to break back above Wednesday's swing high.
