NQ traded sideways onside prior day range on Wednesday setting up another large range down day on Thursday.
Unless central banks came in aggressively to support the stock market before the market open on Thursday we could see a big crash on Thursday.
The Dow has broken below its key 200-daymoving average on Wednesday with the S&P 500 not far above its 200-dma.
We could see the S&P 500 came down to its 200-dma on Thursday and the NQ coming down as well.
We speed of the current decline does not leave traders and investors with any graceful exit opportunity, with many account that would get liquidated, selling beget selling.
Key intraday price level for NHQ on Thursday will be at 8900.
-- Below 8900 we could see margin selling, next NQ support is its 200-dma, now at 8200, but force selling could cause the market to slice through it like hot knife through butter.
