Large gap-up opening on Tuesday triggered short-covering rally, but failed to attract serious buying programs, failed to clearly break above 2325 resistance. It then spent the rest of the day consolidating. If consolidation is complete, we should see another push above 2235 to the next resistance level.
For Wednesday I will use 2325 as key inflection level.
- Above 2325 implies another upswing, targeting 2365-2375 price level.
- Below 2325 implies NQ is in still a pullback mode, targeting a decline down to 2285
