A large down day for NQ on Wednesday. With NQ closing at the low, and sitting at support, a sustained drop below Wednesday low cou7ld easily tank out of control, especially with the S&P 500 futures (ES) closing just at iots 50-day moving average on the daily chart.
A break below Wednesday low for NQ and ES breaking below its 50-day moving average could really tank the market very hard. For NQ the next downside target is around 12,100, with several supports coming in at around 12,450, and then 12,220
