As expected NQ rallied again on Wednesday to another higher high overnight, causing a gap-up opening on Wednesday that was followed by early morning drop, then rallying up again, a choppy sideways day following a trending up day on Tuesday.
With the Fed actively supporting the stock market, pushing it up for Trump, we could see another rally day on Thursday. To do so, it has to clearly break above Wednesday swing high and trigger short-covering. If so resistances are 7270 and 7320, both of which are prior swing low, now resistances.
Failure to break above Wednesday high is an indication NQ is going to decline down to key support, the 200-ma on the 5-minute chart.
