Another pullback-down day for NQ on Wednesday, downtrend int he morning and rally in the afternoon with a close right around key inflection price level for Thursday. NQ needs to rally very soon as failure to do so is is likely to attract short-sellers that can overwhelm the buyers and cause the market to tank hard.
Key inflection price level for NQ on Thursday will be 4475 area.
-- As long as NQ can stay above 4475 it is likely to rally with key resistance at 4510.
-- Selling pressure should continue with NQ below 4475 with critical support at 4437. A clear break below 4437 could trigger massive algo sell programs.
