Dragged down by global stock market selloff major wall street indices also sold off hard on Thursday. NQ dropped over 100 points and close at the day low an indication the bull capitulate into the close, a very bearish day.
A large range day often requires consolidation so Friday has the potential to be a sideways consolidation day. However, with so much technical damage done on Thursday another trending down day on Friday should not surprise us
Key inflection price level for NQ on Friday will be 4400.
-- Selling pressure should continue below 4400, next support is 4340, 4300 and then 4275.
-- Selling pressure should subside above 4400, first resistance is at 4440.
