On Wednesday NQ pulled back down in the morning before rallying back up to 4460 resistance. NQ is having some problem breaking above prior swing high that was set at the beginning of March.
The current rally is the fourth attempt at breaking above the early March high (now key resistance) of about 4478. Failure to break above could again attract short-selling that can tank NQ back down to support.
Key price level for NQ on Thursday will be 4440.
-- Staying above 4440 is an indication NQ uptrend is still well intact, with resistances at 4460 then 4478.
-- Trading back below 4440 implies NQ is either in a pullback consolidation mode with lower support at 4425.
