NQ tried to break below support early in the morning but failed. Profit-taking bounce turned into a trending upmove as algo buy programs kicked into high gear on a break above the 50-moving average on the 5-minute chart.
Rally continued all day closing at the day high and at key resistance level (4095) for Thursday, setting up a positive momentum into the close.
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Key price level for NQ on Thursday is 4095.
-- A sustained break above 4095 could trigger a rally to above 4105.
-- Failure to stay above 4095 should attract some selling that could take NQ down to 4075 support. A sustained break below 4075 could attrack momentum algo sell programs targeting a test of 4055 support.
