NQ Guideline For Friday

NQ tried to sell-off on Thursday with the opening below the key 200-ma on the 5-min chart, but was not able to break through multiple support sources at 6970 where support buyers overwhelmed the sellers, causing a rally off support.

NQ is now stuck between 7070  resistance coming from the 200-dma on the daily chart and 6970 support. Unless NQ can breakout of the zone 6970-7070 NQ is likely to continue to remain choppy inside the range. .

The stock market will be closed on Monday for the President's day holiday, thus we could see a choppy sideways narrow range trading action on Friday