NQ tried to rally soon after the open on Thursday, breaking out above Thursday swing high but then failed, triggering sharp reversal, and then close at the day low on Thursday.
This type of pattern, reversal day is usually followed by a trending day the following day. As such we can expect NQ to trend down on Friday.
However, since Friday tend so be a choppy sideways consolidation type of day, we should also be on a look out for potential sideways day.
Key intraday price level for NQ on Friday will be at 9400.
-- Bearish below 9400, but key support is at 9300. NQ needs to break and stay below 9300 to cause a trending down day on Friday.
-- If 9300 should provide support on Friday we could see NQ rally back up to 9430
