NQ would need to trade back above 6245 to get back into bullish mode. 6245 is Thursday key inflection price level for NQ.
-- Remaining below 6245 by the open on Thursday is going to attract selling, with the first target of a break below Wednesday swing low. With trailing stop-loss for the long position, NQ would need to break below 6205 to trigger a liquidation decline as trailing stop-loss becomes sellers.
-- Trading back above 6245 on Thursday implies the pullback down move has ended and that NQ is going to resume its rally, with the first upside target of a break above Wednesday swing high.
NQ is currently in a very overbought condition on the daily chart and a substantial pullback down move is warranted.
The FOMC kept interest rate unchanged on Wednesday
