On Wednesday the Plunge Protection Team were finally able to push the market up in the afternoon and avoid a late day sell-off.
Wednesday was also the second pullback-up day in the ongoing daily downtrend, so making Thursday a potential end of a pullback consolidation period and the resumption of the downtrend.
Key resistance price zone for NQ on Thursday will be 4275 - 4325 area, key support is 4200.
-- Failure to break and more importantly to stay above 4325 could attract heavy selling pressure that could easily overwhelm the PPT.
-- Breaking below 4200 is likely to trigger major algo selling pressure with very critical lower support at 4000. Breaking below 4000 is an indication NQ is in crash mode, lower support is 3700.
Dow Weekly Chart
