Another large down day for NQ on Thursday. Attempted bounce off the 4700 support failed to attract any buyer, NQ then broke below 4700 support and proceeded to drop to lower low without the usual end of day buy program bounce.
Many traders and investors are positioning for a possible Trump winning the presidential election on Monday. Trump winning is certain to crash the stock market and many traders are positioning their bet to gain from Trump winning.
Key price level for Friday will now be 4700 previous support now resistance.
-- Trading below 4700 should keep NQ under intense selling pressure.
-- NQ needs to break-back above 4700 to relieve some selling pressure.
