NQ mostly stayed below 3000 resistance level on Wednesday, although it eventually broke above 3000 in late afternoon, rallying just enough to close the gap, but dropped back down below 3000 at the close.
-- The rally from day low looks like a large bear flag (bearish). If so, it should go start to trend down soon, target down is a retest of last week Friday swing low, but standing on its way down is support at 2980.
-- A rally back above 3000 has the potential to trigger short-covering rally, potential target is Tuesday swing high, but first resistance is at 3017, and has the potential to stop and reverse the rally.
ES has a similar pattern with key resistance at 1662, bulliih above and bearish below it..
