On Wednesday, NQ opened with a gap-up above the high, Monday's swing high, then immediately sold off, dropping down to support before consolidating sideways into the close.
The market looks tired and seems ready to sell-off for a few days or longer, but as long as 4100 support holds, the uptrend should continue.However, breaking down below 4100 is likely to trigger massive algo sell programs, next strong support is 4000.
Key price level for NQ on Thursday is 4150.
-- Bullish above 4150, next target is a break abve Wednesday swing high.
-- Bearish below 4150, but the next support is at 4100. Only a clear and sustained break 4100 could lead to a trend reversal from up to down on the daily chart, next support is 4050, then 4000.
