Today's price action looks to close the Day and Week below the key level of 12400 on the Nasdaq CME_MINI:NQ1! which is the line in the sand 50% Retracement of the Summer 2022 Rally. The rally topped out mid-August (see post below). Today's intraday price action showed a potential rally to recapture the level only to turn and reverse thus confirming the level as Support Turned Resistance. A retest of the earlier months' lows is now a high probability.