Wild trading actions in the equity market on Wednesday with the three main stock indices, the Dow, the S&P 500 and the Nasdaq 100 all rallied into their respective 50-day Moving Average resistance on the daily chart, and then dropped down from there, indicating heavy selling by the algos at resistance.
Those price levels, 25,100 for Dow Futures, 2725 for the S&P 500 Futures, and 6,600 for NQ Futures. will be key price level going into Thursday and Friday trading sessions.
-- As long as those price level is not clearly violated to the upside, selling pressure should continue to intensify.
There will be wild trading actions as Plunge Protection Team will be actively supporting the stock market selloff.
