NQ sold off again soon after the open in the morning on Thursday. This pattern of institutional selling in the morning then followed by retail buying in the afternoon should continue until institution has completed their distribution activities, or until some external even forced many funds to have to sell their position whether they want it or not. That time is coming soon.
The collapse of the biggest real estate developer in China, Evergrande, will have a powerful negative ripple effect on global market. When investors lost their money on Evergrande and they are forced to sell their assets worldwide, the market for stocks, real estate, bonds, etc, will crash. When would that happen is difficult to pinpoint but is should come very soon.
On the intraday time-frame, key price level for NQ on Friday will be at 15,520, bullish above, bearish below it
