Another narrow-range up-day for NQ on Wednesday, closing neat the high of the day. NQ is in an uptrend on all time frame. Although it is currently clearly in an overbought conditionl, a continual push higher is going to cause more short-covering.
First Support on Thursday is 2952.
-- Above 2952 on Thursday is bullish, short-covering up trending market should continue.
-- A clear break below 2952 could trigger algo selling programs that can tank it quickly down to the next support 2942. Strong support lies at around 2937.
