On Tuesday, NQ opened gap-up and rallied up to resistance, but failed to break above. It then reversed back down triggering selling algorithm, tank down hard, a large downtrending day.
For Wednesday where it trades in relation to key inflection level will determine whether or not we will get another large down day or a consolidation day.
Key level is 2700.
- Above 2700 implies it is going intro a pullback/consolidation mode, rally targets are 2715 and 2725.
- Below 2700 implies it is going for another liquidation selloff, targets are 2660, then 2645.
