NQ opened with a gap-up and rallied into another higher-high in the morning, but then traded sideways most of the day, closing at key support price level 3995 area.
With the rally on Wednesday NQ is now in overbought condition both on the 60-minute chart and the daily chart, vulnerable to a sharp pullback down if pullback breach key support zone.
For Thursday key support zone is 3995.
-- As long as NQ does not clearly breach 3595 support, NQ remains in bullish mode.
-- A clear and sustained break below 3995 is an indication that NQ may be going for a larger pullback down.
-- Breaking below Wednesday's low could trigger algorithm sell programs that has the potential to tank the market.
