-- NQ daily Trend = Down
-- NQ 60-minute trend = Up but now at strong resistance
-- NQ 5-minute trend = Up
NQ sold off hard soon after the open on Wednesday but massive intervention by the Fed eventually stopped the decline and the managed to push NQ up above key line-in-the-sand, which then triggered short-covering, caused a big rally.
NQ close just below strong résistance, 7840-7850 price zone, but above strong support 7800. Thus 7800-7850 will be a balance zone, and a breakout of the 7800-7850 price range could trigger a trending move out of the range.
