NQ traded sideways in a consolidation pattern on Thursday, rallying in the morning and then declining in the afternoon.
With most traders out of the office on Friday for the long labour day weekend, and with Friday's tendency to chop around, the stock market may just chop around.
However as always, we must be aware that anything is possible. With NQ in breakout mode, if the shorts continue to cover NQ can have a strong rally day.
Key inflection price level for NQ on Friday will be 7645.
-- Bullish bias above 7645, next upside target is a higher high above Thursday swing high.
-- Trading below 7645 is bearish for Friday, support is 7590
