Another choppy sideways trading pattern for NQ on Wednesday. 12,050 - 12,125 continued to be a strong resistance zone for NQ to break.
On Thursday 12,050-12,125 should remain to be key resistance zone. Failure to break above the resistance zone could starts to attract short-sellers into the market that could then tank NQ back down to a new lower low.
A clear and sustained break above 12,125 could trigger another round of short-covering. If so, the next resistance zone ia at around 12,550 - 12,700
