NQ traded for the fourth day in a row mostly inside a trading range between 14,000 support to 14,300 resistance. The rally was very choppy smply because it was mostly short-covering, and no genuine buying activities
There are several layers of resistance above 14,300, The next resistance is 14,450 then 14,500. The Fed is going to continue to push the market higher in order to trigger more short-covering., but it is bumping against several resistance layers.
There is also not much selling happening as long as NQ remains above 13, 800, with strong support at 13,700. NQ would need to clearly break below 13,700 to trigger a cascade of selling activities.
