A sideways consolidation type of day for NQ on Wednesday following a large down day on Tuesday. Depending on where it trades in relation to key support, 21,300, we could either see another sideways day or a rally day or a down day.
NQ has several layer of supports, 21,300, then 21,000 and then finally 20,900. NQ would need to clearly break below 20,900 to cause a waterfall decline down to the next lower support, 20,000. Will the crash down to 20,000 happen on Thursday? it is not very likely due to those strong supports.
Staying above 21,000 would keep NQ in a neutral to bullish zone.
