NQ broke below its key 20-day moving average in the morning when then triggered massive algorithm selling tanking NQ down towards the critical 200-dma support.
NQ is now set to tank down to its 200-dma support which is currently at 6400. A decline down to 6400 could attract enough buying interest to at least cause a temporary bounce. But with the 10-year US treasury bond yield breaking above ket technical 3% level, all hell could break loose if yield clearly break above 3% level.
Support for NQ on Thursday will be 6400.
The chart below is current Nasdaq 100 chart, spotting a bearish Head &Shoulder pattern.
