A sharp selloff for NQ on Wednesday right from the opening bell. NQ dropped down to support then rallied all day into the close. At the close of the day NQ looks set to trend up on Thursday
Both on the daily chart, and the 5-minute chart, the technical pattern for NQ looks good for a trending up day on Thursday. However, on the 60-minute time-frame, NQ could be setting up for a lower-high test of Tuesday high.
As such, I would be looking at 12,420 as key line-in-the-sand for trading NQ on Thursday, bullish above and bearish below it.
