Another consolidation day for NQ on Wednesday following two very large down day that drop NQ down to vary strong support on the daily chart,11,050
On Thursday, as long as NQ remains above Wednesday low we should continue to see short-covering rally in a choppy sideways trading pattern.
Key line-in-the-sand for NQ on Thursday will be at 11,300
-- NQ is bullish above it, with first upside target at 11,550
-- Bearish below it with support at 11,150 - 11,200
NQ needs to break below 11,050 strong support zone and where trailing stop-losses now congregates, to cause massive selling that can tank NQ over 1,000 points in one day.
