Friday turning points on the Nasdaq
Similar to the S&P - the nasdaq has had bullish momentum come into play - could Netflix be supporting this?
Although here there are a couple more area higher up that need to be cleared to allow for new highs on both the S&P and Russell 2k. There are a couple of demand areas that could allow for some good long entries with the nearest supply at 4438 give a good reward profile if these levels remain good throughout the overnight session. In addition the nearest supply at 4438 is a retest of previous area of supply - there may still be some selling pressure here given the sharp reversal and the higher level above which remains to be tested.
Although here there are a couple more area higher up that need to be cleared to allow for new highs on both the S&P and Russell 2k. There are a couple of demand areas that could allow for some good long entries with the nearest supply at 4438 give a good reward profile if these levels remain good throughout the overnight session. In addition the nearest supply at 4438 is a retest of previous area of supply - there may still be some selling pressure here given the sharp reversal and the higher level above which remains to be tested.
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