Another sideways consolidation day for NQ on Wednesday, with the open above support then sold off hard in the morning dropping down to just above breakout price level, 6450 before they were finally able to rally the market back up again.
Wednesday was the second pullback day following Monday's breakout day, that makes Thursday a key day for NQ to rally again and close in in the green. Failure to do so implies weakness and could attract enough selling to push the market back down.
With many investors and funds waiting for the new year to take profit, selling should be under control. However, having said that, with the tax reform negotiation out of the way, anything could happen.
On the short term timeframe, key line in the sand for NQ on Thursday will be 6500, bullish above, and bearish below it, with very important support price level at 6450
