They tried to rallied NQ on Thursday but without buyers NQ again failed to break above the 50-dma on the daily chart, then traded sideways in a very narrow trading range.
Unless they can clearly break above 7540 and cause a short-covering, we could see another choppy day, particularly as Friday tends to be choppy sideways type of day.
If instead of break out to the upside, NQ break below Wednesday low where trailing stop-losses now resides, we could see a quick liquidation-type of down-move, particularly if it can break below 7440 support. If so, strong support is now at 7340.
Inflection price level for NQ on Friday is 7510
