NQ opened with a large gap-down below prior day low, a breakdown open, but the open was just above key 50-day moving average support on the daily chart.
The breakdown open was quickly reversed, as the 50-day moving average algos came to buy aggressively, over-running the intraday timeframe breakdown sellers, clearly larger longer-term algos over-running the smaller groups of intraday traders.
NQ rallied non-stop all day breaking above the 20-dma resistance price level. With Friday normally a sideways consolidation day, NQ may just traded sideways on Friday.
Key support for Friday is now at 7300, with 7370 as key support/resistance price level.
