A huge opening gap-up on Wednesday was aggressive sold, with NQ dropping sharply down to critical support, the 200-ma on the 5-minute chart before market manipulators were able to reversed it back up. NQ closed near the high of the day on Wednesday.
NQ may continue to trade sideways on Thursday with key support at 12,260 and resistance at Wednesday swing high at 12,440.
As long as Wednesday swing low is not clearly violated NQ should remains in sideways trading mode. However, should Wednesday low is clearly broken we could see a big decline. If so the next support level is 12,000-12,050
