NQ traded sideways on Wednesday, the second day in a row, setting up high probability trending day on Thursday, the direction will depends on where it opens and trade in relation to key price level.
Key inflection price level for NQ on Thursday will be at 11,160, bullish above, with first resistance at 12,275, and bearish below it with first support at 11,000.
Breaking above resistance could cause a trend-up day, if it can break and stay above it.
Breaking below key support could cause a trending down day, if it can break and stay below it.
Overnight NQ has traded down to 11,000 support. If NQ should open and stay below 11,000 on Thursday, we could really see sharp selling as traders exit their bullish position.
