Wednesday was the third consecutive down-day for NQ, dropped down to support at 4340. Although NQ still has ample room to decline before hitting strong support on the daily chart, it is now likely that NQ would have a bounce up towards 4400 area before resuming the decline.
Key support price level for NQ on Thursday will be 4340.
-- Below 4340 we could see another round of algo sell programs, with the next support at 4300 then 4280.
-- Above 4340 is an indication NQ may want to rally up to resistance at 4400 before resuming the downtrend.
