On Wednesday, another test of the daily chart 50-ma in the morning triggered another massive buy programs and another sharp rally before NQ spent the rest of the day trading sideways.
NQ Wednesday closing price was not very far below daily chart 20-ma 7505-7510 which now serves as key resistance for Thursday.
-- A break above 20-ma, 7505-7510 on Thursday is likely to trigger short-squeeze that can rocket NQ up.
-- Failure to break above 7505-7510 resistance is likely to attract another selling programs to re-test the 50-ma support again now sitting at 7420. Should the 50-ma clearly breaks, it could cause massive selling as buyer then becomes sellers.
Hurricane Florence is now Category 2
Hurricane Florence is now Category 2
