Trade Guideline for Thursday (NQ)

A one day rally in a hard downtrend that is then followed by another large down day is an indication that this market is still in big trouble and is in crash mode. Global capital is fleeing risky assets such as stocks  and going into safe haven assets such as gold. As long as this trend continues the equity market will continue to be under intense selling pressure that could easily overwhelm the Plunge Protection Team.

It is possible that if price can stay above critical support level 2040 - 2060 area we can get another up day or another consolidation day. However a clear and sustained break below 2040 could send it crashing down to 1970 and even down to 1900 area.