Still unable to break above triple-top, seller came in on Thursday and sold the market hard, a down-day for NQ on Thursday, the second pullback-down day in a row for NQ.
Unless NQ can breakout above 4525 it would remain in a sell mode, with key support at 4500, trading range will be 4500 - 4525
-- With many trailing stop-loss residing just below 4500, a sustained break below 4500 has the potential to trigger algo sell programs that could tank NQ quickly down to the next support zone at 4460-4470.
-- If NQ can break and stay above 4525 it has the potential to trigger short-covering, next resistance is Wednesday's swing high.
-- Remaining inside 4500-4525 trading range implies choppy sideways price action, a typical pattern for Friday as traders squares their book.
