As expected, NQ opened with a gap-up, then after closing the opening gap, rallied most of the day as the shorts were forced to cover. NQ eventually rallied into overbought zone late in the day before reversing sharply into the close.
After the close a series of tech earning including Apple earning report tank NQ very ahrd after the close, setting up a highly sharp decline on Friday. As we know, Friday tends to be a choppy sideways day, not anything is possible.
The market has until recently, priced a Joe Biden win, but the odds now is srarting to favour Trump winning the election. And that likelyhood of Trum winning means less money printing and continual trade wars, bad for the market. As such selling has started.
Key support NQ on Friday will be at 11,130. A sustained break, and NOT a false-break could crash NQ down to double-bottom support at 10,650. It is possible that double bottom level with September low may have to break before profit-taking can pause the decline.
