On Thursday NQ opened with a gap-up and trend up all day without a reversal. It was open-drive type of day.
On Friday however, if NQ opens above key intraday line-in-the-sand, 12,920, and then rally, we could see a reversal back down after either a quick spike, or after an early morning rally. The first support below 12,920 is 12,870, a key support, if that breaks, then 12,800 as support number 2.
If the early morning price action is down below 12,920, down to supports, 12,870, we could see NQ rallying after that and then trade sideways because Friday tends to be a sideways price action type of day.
An important level to watch is the line-in-the-sand 12,920. If NQ does not break below 12,920, we could see another up-trending day, a rare event, but a possible event we must be aware of.
