A huge sell-off in the equity market on Thursday with NQ dropping down over 450 points from Wednesday high, dropping back below February high, the breakout high, a very unusual event.
Key price level for Friday in NQ will be at Thursday low, as key support level. As long as NQ does not trade back below Thursday low we could see either a huge rally or just sideways consolidation.
Key inflection price for NQ on Friday will be at 9700.
-- Trading above 9700 we could see NQ rallying back up to 9800 o 9850 resistance zone.
-- Trading below 9700 is an indication NQ may retest Thursday low or down to the 20-moving average n the daily chart, 9575.
-- A sustained break below 9575 is very bearish, next lower target is 8975.
