On Wednesday, Nasdaq completed wave 5 rally with a gap-up opening to higher high above Tuesday's swing high, then spent the rest of the day consolidating in an ABC (or 1-2-3) wave fashion, still on wave C or 3 down going into the close.
At the close on Tuesday NQ was still on wave 3 or S down, but once completed NQ should resume its uptrend, a larger degree (60-minute) wave 5 up.
Key level for Thursday is 2800.
--Above 2800 implies the next upleg is in progress.
-- Below 2800 implies consolidation wave 3 or C is still progress, with support levels at 2783 and then 2760-2765
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