On Thursday, NQ opened with a gap-up above prior day range, then reversed and trend down, trapping many buyers who then has to exit at the end of the day with a big loss as we can see NQ tanked in the afternoon as buyers bailed out of their long position.
NQ usually trade sideways on Friday with key resistance at 200-ma (11,330) on the 5-min chart and key support at 11,050.
As long as NQ remains inside the 11,050-11,330, it would be a sideways day. Only a sustained break out of the range could cause a trending move in the direction of the break.
