NQ remained inside the 4485- 4540 trading range on Wednesday for the 5th day in a row. Its morning rally up to 4540 resistance in the morning failed to breakout above it. Profit-taking sets in as NQ traded sideways all day and into the close.
4540 remains key price level for NQ on Thursday.
-- A sustained break above it could trigger some short-covering rally
-- Staying below 4540 could attract short-selling with key support at 4515. A break could trigger algo sell programs, with supports at 4503 then 4485.
