Following a large trend-down day for NQ on Wednesday, NQ traded sideways on Thursday consolidating the large trend-down day. With Friday tending to be a choppy sideways day, we could see another choppy sideways day on Friday.
For Friday's trading, key support is at 12,780 and key resistance at 12,880. A sustained break out of the 12,780-12,880 could cause a large move out of the range. Failure to breakout, we could see a retest of the opposite range. A false breakout will also likely to reverse to the opposite range.
