A small pullback day in the equity market on Wednesday. NQ opened with a gap-down below support and after dropping down in the early trading, NQ quickly reversed back up and rallied back to just under resistance.
Which direction NQ will go on Thursday will depend on where it trades in relation to its key inflection price level, which for Thursday will be again at 6680.
-- Trading above 6680 implies NQ is resuming its uptrend. If so the next target up is a break above its recent high. Possible target are 5730-5750.
-- Failure to break back above 6680 is an indication NQ may have to pullback down further. If that is the case, the next possible downside target 6620
