Distribution price action continued on Thursday, with every morning higher high getting sold by market insiders as they continue to download their long position ahead of the bear market.
Key support for NQ on Friday will again be 6070.
-- If NQ can stay above 6070 it is likely to make another higher high before selling comes back in and push the market lower.
-- Trading below 6070 is likely to cause a sideways price action with lower support at 6040, as long as market internals do not get too bearish..
Another sign the economy is weakening, GM announced they are to Close their manufacturing Plant for 6 Weeks, Lay Off 1,500 Workers
