Following two consecutive large down days selling in NQ seems to be taking a pause on Thursday, with buyers and profit takers buying at between 15,500-15,600 price zone.
15,500-15,600 is a strong support, prior swing high having been retested two times and hold. As such, if it does not break tomorrow Friday, we could see a 2 to 4 days of sideways consolidation with upper resistance at 16,100 before breaking back down, that is, as long as 16,100 resistance level is not clearly violated on any rally..
Thus, if NQ does not crash below 15,600 on Friday, look for the downtrend to resume next week on Monday, Tuesday or Wednesday the latest.
