The market traded sideways ahead of the FOMC meeting announce on Wednesday. Now that the Fed is out of the way until next year the market can now starts to move out of the sideways consolidation range.
Key price level, now support, for NQ going forward will be the 20-dma on the daily chart, now sitting at 8335 as of Wednesday closing price, NQ December contract price level.
On the intraday timeframe, key price level for Thursday will be 8380
-- Trading above 8389 will be bullish.
-- Bearish below 8380, however, NQ would need to clearly break below 8335 to trigger heavy algorithm selling.
