Another large down day for NQ on Thursday as market participants caught on the wrong side had to exit. NQ tanked hard in the morning before trading sideways and rallied at the end of the day as shorts took profit.
With the low of the day just slightly above strong intraday support coming in from a combination of 50-DMA & double-bottom we could see NQ either rally due to shorts taking profit or simply trade sideways in consolidation pattern.
Key support is 19,700 and resistance is going to be between 20,000 - 20,270
