It was an up-trending day for NQ on Thursday. However, it is now bumping into numerous resistance levels where many algorithms would be selling.
18,600 is the 50% retracement level from the last pullback-high on August 1st to the low on August 5th. Many algos would be selling. It is also the 50-MA on the 60-minute chart.
Then 18,850 is the .618 fibonacci retracement and prior consolidation low, and overbought zone on the 60-minute chart. There will be a lot of algos selling around that level if 8,600 is breached.
Key support level is 18,380, bearish below it
