On Wednesday, NQ opened with a gap-down and then dropped down to 7440-7445 support zone before rallying back up where it made a higher high above prior day high before pulling back down.
On the 60-minute chart NQ has a clear 5-wave rally starting from the low on July 30th to today's high. If wave 5 has ended NQ would now drop down below its 20-ma going towards its 50-ma on the 60-minute chart.
Thus going into Thursday trading key support would be the 20-ma on the 60-minute chart, 7470 by the open on Thursday.
-- Trading below 7470 on Thursday could start to run over some trailing stop which should drop NQ down to lower supports, 7445. If the market does get bearish, lower support for NQ are 7400 but strong support is not until 7370
-- Trading above 7470 is an indication wave 5 has not ended. If so, the next upside target is a break above Wednesday swing high.
