NQ declined down to its 50-day moving average support on the daily chart before it started to bounce and the rallied the rest of the day with a close at key resistance on the shorter term intraday time frame.
On the 60-minute timeframe chart NQ, from its June 21st high, NQ is showing a clear 5-wave decline pattern with its wave 5 completed on Thursday morning before bouncing.
As long as Thursday low remains intact we should see more rally on Friday back towards 7160 resistance area, likely in an a-b-c wave pattern.
