A wide-range up-trend day on Tuesday was followed by a sideways consolidation day on Wednesday. For Thursday, unless NQ can clearly break above Wednesday's high and stay above, it is likely going to continue to consolidate.
Key level to watch for Thursday is 2710 area (resistance).
- Below 2710 implies NQ is in consolidation mode, with 2700 as key inflection point and 2680-2685 as key support.
- Above 2710 implies more short-covering rally.targeting 2730-2740.
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Link: http://www.cnbc.com/id/46714688
