Wednesday was the second pullback day for NQ following six up days in a row. If the uptrend on the daily chart is still in progress NQ should rally on Thursday and it should be a trending-up day.
Should NQ fail to rally on Thursday we know that the current uptrend on the daily chart has ended. If so, we should see NQ breaking back below 20-ma on the daily chart, and likely tank..
On an intraday time-frame, for Thursday, key line-in-the-sand for NQ is at 15,000, with 15,080 as key resistance to break through.
If NQ could break above 15,080, and then trigger some short-covering and some buy programs, we should see a large up-trending day.on Thursday with the upside target at 15,200-15,300 area.
