On Wednesday NQ opened with a huge gap-down into deep oversold territory on the 5-minute timeframe, triggering massive buy programs and profit-taking buying activities, rocketing NQ up through several resistance zones.
When Trump rally in Washington DC went out of control, the market tanked into the close in the afternoon. After hours it seems that the situation in Washington DC is now under control, and perhaps why the market has rallied back up.
It is likely to continue to rally on Thursday if the situation in Washington DV remains under control.
Key line-in-the-sand for NQ on Thursday will be at 12,720. If NQ can rally above 12,720 we could see NQ rocketing up to 12,850 - 12,900 price zone.
Failure to stay above 12,720 could attract anopther round of selling with potential support at 12,600 then 12,520.
