Wednesday was a consolidation day with NQ trading between 2600 support and 2620-2625 resistance. For Thursday, unless NQ can clearly break and stay above 2620 we can expect another consolidation day.
Key Level For Thursday is still 2620.
- Above 2620 it may want to break out and trend to 2640. A clear and sustained break above 2640 could trigger a fast short-covering trending move up.
- More consolidation below 2620, targeting 2600 and 2585.
Interesting article from Larry Summers, entitled Avoiding a Global Catastrophe
