On Wednesday, NQ opened with a huge gap-up There was still not much buying so NQ end up with a trend up day with a narrow range, mostly from short-covering..
The high of the day was at key resistance of 13,000, which is now key inflection price level.
If NQ could break and stay above 13,000 we could start to see some shorts get forced to cover. If so, it should start o pusg higher.
Then after breaking above some price level, the short-covering sould intensify and thus may start to trigger a fast rally.
If NQ is not able to break above 13,000 in a sustained fashion, sellers could start to become aggressive which would push NQ back down to support, 12,850
