On Wednesday NQ opened with a gap-down then immediately reversed and rally all day successfully broken above key resistance 6290, which should then serve as key support for Thursday,.
It has broken decisively above 6290 in overnight trading, and if it can stay above 6290 by the opening bell on Thursday we could see NQ rallying up to 6330. Then if 6330 is broken, the next upside target is anywhere between 6370 to 6380 price zone before major selling can push NQ back down.
If, on the other hand NQ fails to break above 6330 area, selling could again overwhelm the buyers, and a retest of the recent lows is likely.
Both President Trump tax plan and the FOMC decision on interest rate next week has the potential to crash the stock market.
