Friday tends to be choppy, often with a sideways consolidation pattern, staying inside a trading range. However, following 2-days of sideways consolidation pattern there is a possibility this Friday may be a wide range day, particularly if NQ can break and stay below Wednesday's swing low.
Key resistance is 4375 and key support is 5330.
-- A sustained break out of the 5330-5375 trading range is going to cause a big move in the direction of the break.
-- A sustained break above 5375 could cause a swift short-covering rally to 5400 resistance, and
-- A sustained break below 5300 would cause a liquidation selling move down to 5250 support.
-- A false-breakout of the 5330-5375 trading range will cause a fast reversal and targeting a move to the opposite range support or resistance.
-- Remaining inside the range is likely to keep NQ choppy, with sideways trading pattern.
