Major equity indices bounced off their respective 200-day moving average on Wednesday then close slightly positive for the day.
The rally from a bounce off the 200-dma may continue on Thursday then continue back down and break the 200-dma on Friday
On the 5-minute time frame, key resistance on Thursday will be 6550.
-- A clear break above, especially if it gap-up above 6550 on Thursday there is s real possiblilry they would be able to push NQ up to 6650 resistance.
-- Failure to break back above 6550 is bearish, and a selloff could break below the 200-dma which is around 6400 at the moment. A clear break of the 200-dma is going to bring in a lot is selling.
