On Wednesday NQ continued the Tuesday afternoon selling, tanking hard, ended with a large down day on Wednesday.
After a sharp and large downtrend in the morning NQ spent lunch and afternoon hours trading sideways in a consolidation range, with 10,040 as resistance and 9040 as support.
On Thursday NQ either:
1. Break above consolidation high 10,040 and spike up to the next higher resistance at 10,130 before dropping back down, or
2. Drop below support 9940, and tank to the next support level,9830, or
3. Unlikely but possible, NQ remains inside the trading range between 9940 - 10040.
Key line-in-the-sand for NQ on Thursday is 10,040.
