A large down day for NQ on Thursday, breaking below several support level, including breaking below the 200-dma daily, but then managed to close above key 200-dma daily.
Key inflection price level for NQ on Friday will be the 200-dma daily, at 7125 as of Thursday close.
-- Trading back below 7125 is bearish but it would need to break below 7040 to trigger an avalanche of selling with critical support at 6910 as stop-losses for buyers are now congregating below 7140
-- Trading above 7125 should reduce selling pressure, NQ may rally or trade sideways, particularly since Friday tends to be a choppy sideways type of day.
