After opening with a gap-up and then trading sideways for the first two hours in the morning on Thursday, buy programs were finally able to pushed the market up breaking above 5440 resistance for NQ before consolidating above 5440 until the end of the day, setting up 5440 as key support price level on Friday.
If they managed to keep NQ above 5440 on Friday morning we can expect NQ to continue to rally, its next upside target is a break above prior swing high 5480 before profit-taking activities sets in which can push NQ back down .
However, if NQ trades back below 5440 it is an indication of a larger pullback down or consolidation down with first support at 5430. If 5430 breaks, the next support is 5400.
