On Wednesday, after briefly breaking below Tuesday swing low buy programs was triggered, and it did not stop until the close, with NQ closing at the day high, setting up a bullish day on Thursday, and more so if buy programs continues.
This whipsaw price actions, where we get a big drop one day, then followed by a big rally the next, is going to intensifies as topping pattern gets more mature, and the beginning of a bear market gets closer and closer.
Key inflection price level for NQ on Thursday will be 5740.
-- As long as NQ can stay above 5740 selling should be under control, but resistance are 5775 then 5795. A clear break above 5795 is an indication NQ is on its ways to test the recent high of 5900, and should break above 5900 before a major pullback.
-- Should NQ failed to break above 5795, abut instead trade back below 5740, selling could come back in, and indication the next large NQ down day is coming.
