NQ has been trading sideways in a narrow range since it broke above double top resistance 15,850, on November 14, 2023. Now that Thanksgiving holiday is over the stock market can trend again.
15,850 is now key support, and it should hold if NQ is going to trend back up again. A break back below 15,850 is an indicatiojn NQ is going into a larger decline.
Should NQ drop back below opening gap day low 15,790 we could see massive liquidation decline for a quick drop to close the opening gap, down to 15,470 to 15, 550 area.
