After briefly trading below 4503 key inflection price level, buy programs was triggered lasting over 1.5 hours, producing a large and fast rally. NQ then traded sideways on profit-taking, eventually breaking above yesterday swing high near the close.
Daily chart is showing uptrend and not yet in overbought territory, and the 60-minute chart is also showing an uptrend but already in overbought territory
Key inflection price level for Friday remains at 4503.
-- As long as any pullback-down move does not clearly break below 4503 the rally should continue, targeting a higher-high.
-- With the 60-minute time-frame in overbought territory we could see some pullback on Friday, but as logn as pullback does not get out of hand look for 4503 to hold. Breaking below 4503 would target the next support at 4480.
