Another pullback down day in the stock market on Wednesday, a second down day in a row. The market should now rally on Thursday, the third pullback day, a continuation of the uptrend.
Should the rally not materializes on Thursday the market sentiment will turn negative, and a selloff from lower high could be fast on a break below support, as trailing stop-losses get triggered.
Key support for NQ on Thursday will be 6885.
-- As long as 6885 is not clearly violated NQ either trend up or trade sideways in a consolidation patter.
-- Clearly breaking below 6885 is bearish, if so the next strong support is not until 6700.
