A choppy sideways consolidation type of day for NQ on Wednesday even after the FOMC announcement, a doji day for NQ as seen on the daily chart. A doji day is often followed by a trend move the next day, but the direction is not certain as it depends on where it trades in relation to the closing price.
Closing price for NQ on Wednesday is 4564.75, a key inflection price level for NQ on Thursday.
-- Trading below 4565.75 is an indication NQ is going down targeting 4500, with potential support at 4545 that could reverse the trend back up again. But the two day rally looks choppy and counter-trend. If so, NQ downtrend should resume and break below 4500 support level going forward.
-- Trading above 4465.75 and rallying is an indication short-covering should continue, targeting a re-test of the recent high, with 4600 and 4635 as resistance price level.
