As expected the stock market continued to bounce from extreme short term oversold condition, which usually last between one to three days. As such, we could see resumption of the down move on Thursday.
Key short term inflection price level for NQ on Thursday will be 8280
-- NQ may continue to be choppy above it with resistances at around 8365.
-- Bearish below it, with key support at 8250. A clear and sustained break below 8250 could trigger heavy selling. Strong support is 8050 price zone.
