Thursday was also a trending up day again for NQ following a very large up-trending day on Wednesday. Now that NQ is in extreme overbought conditions on both the 60-minute time frame and daily time frame, we could see some larger pullback down move on Friday.
Although Friday tends to be a choppy sideways non-trending day, with NQ now in parabolic-up mode we could not rule out another trending-up day again on Friday
Key line-in-the-sand for NQ on Friday will be at 13,360. If NQ remains above 13,360 we should see NQ makes another higher high on Friday.
Breaking below 13,360 could trigger a quick decline to support at 13,300 - 13,320. It is difficult to predict whether or not 13,300 will break. If the market is not extreme bearish 13,300 support should hold. Breaking below 13,300 could tank NQ down 13,100
