Another large rally day for NQ on Thursday. NQ is now about 700 points above prior swing high. Those shorts who has not covered are now in deep losing position. They could panic.
Friday is normally a choppy sideways day, but on this Friday, anything is possible. If she shorts are forced to cover we could see another large up day for NQ on Friday. If enough longs takes profit we could see a down day for NQ on Friday.
Key intra-day price level to watch is the 50-ma on the 5-minute chart. Bullish above, and choppy below it.
