NQ Guideline For Thursday

NQ continued to rally in the morning on Wednesday but sellers were aggressive in the afternoon, NQ tanked hard dropping to just above key support on the 5-minute chart at the close.

The open will key important on Thursday. If the open remains above key support at 7400 we could see morning bounce before selling resumes. Resistance on the bounce is at 7650

However, opening below 7400 could trigger margin selling right away, and could cause liquidation drop. Supports are at 7300, 7200 and 6800.

Agreement on the stimulus plan could stall and delay the anticipated decline on Thursday