Following a second consecutive Chinese Yuan devaluation on Wednesday NQ opened with a gap-down that was immediately followed by a run-down to support and the 1:1 target before it reversed and spent the rest of the day rallying up to just below key resistance.
Key price level for NQ on Thursday will be 4500.
-- As long a price can stay above 4500 NQ is either going to be trading sideways or rallying back up, provided it can break above 4545 key resistance level. Next higher resistance is at 4600
-- Breaking back below 4500 will bring back sellers.
China devalued its currency for the 3rd time in three days on Thursday China time.
