Another choppy narrow range day for NQ on Wednesday with a slight bullish bias. The momentum for the current rally is dead, and really struggling to go up. There is hardly any more buyers left as everyone has bought and now almost everyone is long the market.
Without much buyer and without sellers, the market continue to chop around in a choppy narrow range action. Key support for NQ remains at its 20-day moving average on the daily chart, now at 14,880. As long as NQ can stay above 14,880, NQ would continue to have a slight bullish bias, any decline continues to get bought.
For Thursday, key intraday inflection price level for NQ will be at 15,080, with first resistance at 15,130 double-top, and slightly bearish below it with the first support at 15,040, then 14,980.
