NQ traded sideways in a choppy and narrow trading range most of the morning and afternoon on Thursday, only managed to breakout out near the close. The rally was choppy as there is no buyers except the Fed and the PPT.
With the stock market highly manipulated by the Fed for Trump, on Friday, anything is possible, but key inflection price level for NQ on Friday is 7255.
-- If NQ should pullback down to 7255 and could not break it we could see another rally to another higher high before pulling back down. Next strong resistance starts at 7320
-- Trading below 7255 is an indication NQ wants to go down to its 200-ma on the 5-min chart.
