The market rallied fast and furious after the FOMC announcement likely due to massive Fed buy program, pushing NQ clearly above key resistance 3785.
If more shorts needs to cover we should get another large follow-up rally on Thursday (tomorrow). However if all the shors had covered on Wednesday we would see a sideways or pullback-down day tomorrow Thursday.
Key support on NQ for Thursday is 3780-85.
-- As long as NQ remains above 3780-85 support it should rally or trade sideays. Next upside target is 3815-3820
-- Although highly unlikely, a clear break-back below 3780 could cause a massive sell-off.
