NQ opened and dropped briefly just below key support level on Thursday. It did not trigger enough selling programs to overwhelm the PPT buying power. The buy programs quickly rally NQ back up above support thus aborted any possible selloff.
Without buyers, NQ continued to traded sideways all day until another buy programs hit the market in the afternoon, when was again got pushed back down immediately.
On Friday, with most traders out of the market for the long weekend, the Martin Luther King Jr day, we could see a rally, if the PPT buy programs is active, or trade sideways if they are not active.
Key support for NQ on Friday will be 6690.
-- As long as NQ remains trading above 6690, selling would remains under control. If so, we can see another higher high above Thursday high before profit-taking can push NQ back down.
-- Should NQ break back down below 6690 we could see some sharp selling
