11,500 support zone remained very strong. Thursday was no different with NQ dropping down to 11,500 and then rally all the way up to 11,850 resistance before pulling back into the close. The market may have to wait for the earning reports before the downtrend commences.
Key intraday inflection price level for NQ on Friday will be at 11,850.
With 11,850 level in overbought condition on the 5-minute time frame, NQ would need to break and stay above 11,850 to trend up.
Failure to hold above 11,850 is bearish, supports are 11,700 and then 11,500
