A huge rally day for the equity market on Wednesday as easing cycles was has started, with the Bank if Canada cutting short term rates. This should soon be followed by the ECB the the US FED as the western economy starts to slow down fast.
This rate cut cycles should boost financial market, triggering rally into its final explosive capitulation phase, the speed of the blow-off top could be very very fast. NQ next upside target before a big correction is 21,000-22,000
On the intraday timeframe, following Wednesday massive up-trend we should see an 80% chance of a sideways consolidation, with NQ making a higher high in the morning or in the afternoon, and 20% chance of another trend up day on Thursday consolidation.
