A series of bad economic numbers and the escalating unrest in Ukraine overwhelmed the Fed buyers even after the S&P made a higher high early in the morning. Nasdag NQ was bearish right from the open.
The market should opened with a gap-down to support in the morning on Thursday or open and run-down to support.
ES key support for Thursday is 1820 and support for NQ is 3630.
-- As long as these support holds, look for the market to rally into Friday.
-- Breaking below key support could trigger more algorithm sell orders.
Key resistance for ES on Thursday is 1832 for ES and 3655 for NQ.
-- Opening above key resistance or breaking above key resistance is bullish, implies the usual weekend rally has begun.
