Central planners were able to push both the Dow and the S&P 500 up to a new intraday high on Wednesday but NQ did not. Deflationary forces tanked NQ hard on Wednesday. It sold off right from the opening bell and into the close.
On Thursday the price level to closely watch is the 4800 key price inflection level both for the short term intraday timeframe and for the longer term daily chart timeframe.
-- Failure to remains above 4800 could trigger an avalanche of deflationary selling orders.
-- Staying above 4800 should keep sellers at bay, and an indication NQ may simply traded sideways or rally.
