NQ opened with a gap-up above July 03 swing high but failed to trigger a short-covering rally. Instead NQ traded sideways above 3915 the whole day on Wednesday settign up a potential trending move up or down on Thursday, the direction will depends on where it trades in relation to key inflection price level at 3915.
If NQ re-break back below 3915 it could attract algos sell programs than has the potential to really tank the market hard, potential support are 3890 and 3850-3860. If the market internals get really berish, strong support lies at 3800.
Trading above 3915 implies more consolidation or a rally day, target is 2950-3960.
