As expected NQ trend down on Wednesday, and then close at the low of the day as buyers capitulated into the close, setting up a sideways consolidation day on Thursday, as long as it does not violate its critical support at 12,700.
Trading below 12,700 could cause massive selling that could tank NQ down to 12,200 or lower. However, if NQ could stay above 12,700, we could see NQ trading sideways on Thursday.
NQ would need to break-back above 13,080 to turn the trend back up. Until then, the downtrend is in progress.
