NQ rally that started at the 20-day moving average on the daily chart on Wednesday, continued into Thursday morning that continued on into late Thursday afternoon when it started to dropped out of bed, dropping down fast and large, about 180 points down from the day high, dropping down to support before it bounced a bit into the close on profit-taking..
NQ closed just above the 200-ma on the daily chart, 9420, which will serve as a key line-in-the-sand for trading on Friday.
-- Since NQ end of day low was in oversold zone and close above 9420 line-in-the-sand, we could see a choppy action above 9420 on Friday if the open is above 9420.
-- Opening below 9420 implies a potential choppy action below 9420, or a sharp sell-off if key support 9340 is violated.
