Trade Guideline for Thursday (NQ)

Wednesday was a pure short-covering day as evidenced by a very choppy up-trending day. The uptrend is starting to look exhausted and may be ready for a pullback down, but as long as it can stay above key price level of 2215 the short-covering should continue targeting a test or a break above August 31st swing high of 2270 area.

• A clear and sustained break below 2215 implies a bearish bias and a potential decline down to 2270 then 2240.