Traders continued to sell rallies. On Wednesday a large gap-up open followed by short-covering rally in the morning was overwhelmed by selling at double-top resistance 6870.
NQ then dropped down to key support and line-in-the-sand for Thursday at 6760 at the close, setting up a break below 6760 triggering another round of algos selling, or a bounce back up to 6870 resistance.
-- Trading below 6760 is a good confirmation that NQ is gong to resume the downtrend on the daily chart. Strong support is at 6600, a level to watch for.
-- Remaining above 6760 is going to keep selling under control, resistance is again at 6870
