NQ opened with a gap-down and then trend-down all day with a small profit-taking rally near the close. It was a very wide-range down day for NQ on Wednesday.
Whether or not we will get another large down day on Thursday really depends on where NQ trades in relation to it key support level.
Key resistance is at 3995, key support level for NQ on Thursday will be 3965.
-- Breaking clear above 3995 could trigger short-covering rally with next resistance at 4025.
-- Below 3995 implies a re-test of Wednesday swing low 3965.
-- A clear and sustained break below 3965 could trigger another round of algo sell programs, next support is at 3910.
