NQ Daily Trend Direction = Down
NQ 60-minute Trend Direction = Down.
NQ 5-minute Trend Direction = Down at the close of the day on Wednesday
NQ has been hovering above 2650 support for three consecutive days. A strong trending down day or a snap-back rally is coming closer by the day. Which direction will the next strong move will; go depends on on where NQ trades on Thursday.
Key Level for Thursday is 2665.
-- Above 2665 implies potential short-covering with 2680 are key resistance. It would need a sustained break above 2680 to trigger a strong counter-trend snap-back rally.
-- Bearish below 2665, but it needs a clear and sustained break below 2650 to trigger a trending down day, with the next support at 2600.
FOMC decision on Wednesday was not a market mover
