With the Fed buy programs targeting a few popular nasdaq stocks, NQ rallied right from the open on Wednesday after opening with a huge gap down following Trump top economic advisor resignation announcement. However, both the S&P 500 and the Dow remains below their key 50-day moving average.
Key price level for NQ going into Thursday will be 6870.
-- If NQ can stay above 6870 it should continue to rally with the next resistance is n9ot until January swing high at 7030 for NQ based on March futures contract,
-- Trading back below 6870 will be bearish.
A clear 5-wave rally for S&P 500 (SPY) for the 2009 bear market low
A clear 5-wave rally for S&P 500 (SPY) for the 2009 bear market low
