The current uptrend on the daily time-frame is still intact. On Tuesday the usual morning pullback down move to support was again bought, and NQ closed at the high of the day.
On Wednesday with the close at overbought zone on the intraday 5-minute chart, we could again see a pullback down move in the morning before buyers come back in again to push the market even higher.
NQ is now in parabolic up-move on the daily chart, and it should continue, as long as it can stay above its 20-DMA on the daily chart.
Key intraday support on Wednesday for NQ is at 14,720. As long a any pullback down move does not clearly break below 14,720 NQ should continue t rally to another higher high above Tuesday swing high.
