After consolidating sideways in the morning on Wednesday NQ eventually resume its downtrend. NQ continued to crash below strong support, an indication there are lots of selling.
The market is in oversold zone, even so, there is so much liquidation selling going on that the market can continue to get more oversold.
Key intraday price level for NQ on Thursday will be at 12,150. NQ is in extreme bearish mode below 12,150.
Trading back above 12,150 would reduce sone selling pressure. Resistances are 12,300 then 12,550.
