NQ traded sideways again on Wednesday still stuck between 7100 key resistance and 7030 key support, and then closing right in the middle of the trading range. It may would have to open outside the range to trigger a breakout trending move away from the range.
On Thursday support is 7030 and resistance is 7100 (7030-7100 trading range) Where it opens in relation to the range will determine whether or not NQ is going to continue to trade sideways or breakout.
-- Opening outside the range has the potential to cause a trending move out of the range. If so, it will not break back into the range.
-- Opening inside the range offer high probability false-break out of the range.. If so, look for fst reversal.
