Trump trade war rhetoric tanked the stock market on Wednesday, with the Dow now clearly below its key 200-day moving average it is vulnerable to intense selling if it continue to trade lower.
On Wednesday, NQ traded up towards resistance soon after the open, then sold off hard traded down to support, a very large down day for NQ.
With Wednesday's low just above its 50-day moving average support, a bounce is likely on Thursday. However, should NQ failed to bounce off its 50-dma, and instead, break below it right away, the drop could be fast and large as the next major support is not until 6885
