On Thursday both the S&P 500 futures and Nasdaq futures, the NQ opened below their respective 20-DMA which was still acting as support at the end of trading day on Wednesday, thus triggered heavy algorithm selling, tanking the stock market very hard, and setting up a very bearish close for Friday.
Both the S&P 500 and NQ has breached their respective key 50-DMA support on Thursday, and if they do not break-back above it on Friday is likely to trigger another round of selling.
Thus key inflection price level for NQ on Friday will be 5800 and 2445 for ES.
-- Trading below5800 for NQ will be bearish with lower supports at 5680 then 5650.
-- Trading back above 5800 should keep sellers under control, resistances are 5855 thn5870
