On Wednesday NQ sold off ahead of the FOMC policy announcement in the afternoon. A massive and relentless buy programs by the Fed pushed NQ up by 100 points from the day low, bumping against overhead resistance, 4430.There was a small profit-taking decline near the close
Whether or not NQ is going to consolidate the big rally on Wednesday, only time will tell and will depends on where it trades in relation to key resistance on Thursday.
For Thursday key resistance for NQ will be 4430.
-- NQ will be bullish above 4430 but it would need a clear break above 4465 to potentially trigger algo buy programs.
-- Trading below 4430 is an indication NQ is going into a pullback mode.
