A huge gap-down open for NQ on Thursday. With the downside target range met/exceeded right at the open NQ simply spent most of the day consolidating the huge opening gap.
On Friday, key inflection price level for NQ will be at 7290.
-- Above 7290 we could see NQ rallying back up to 200-ma resistance, 7390 as of Thursday close, then dropping back down.
-- Below 7290 NQ is vulnerable to heavy selling pressure. However, NQ needs a sustained break below Thursday low to tank NQ lower.
