With both the Dow and the S&P 500 still trading below their key 50-day moving average, now acting as strong resistance, NQ should continue to rally in a choppy fashion as selling pressure from the larger stock continue to dragged down the NQ stocks.
With Friday's tendency for the market to trade in a choppy fashion, it is likely that the stock market is going to trade sideways on Friday unless some unexpected market moving news surprise the market to trigger a trending move one way or the other.
Short term intraday support for NQ on Friday will be 6930.
-- As long as NQ can remains above 6930 we either get a sideways choppy pattern above 6930 or a rally.
-- Trading back below 6930 implies a potential move down to the lower support level at 6870.
