On Thursday NQ opened with a huge gap-up above 13,000 key support that was broken on Wednesday. As such, the shorts were forced to cover triggering all day short-covering rally.
NQ closed just below key resistance at 13,300, which will be key price level and key resistance for NQ on Friday and going forward.
If NQ is not able to break above 13,300 on Friday we should see NQ pulling back down and trade sideways, with key support at 13,000.
A sustained break above 13,300 should trigger another round of short-covering rally.
