On the 5-minute chart, NQ completed wave 4 and wave 5 in the morning on Tuesday, then rallied in the afternoon and completed wave A & B and started wave C.
Key level For Wednesday is 2700.
-- For Wednesday a clear and sustained break below 2700 implies wave C is completed and the next leg down is in progress. Next support is 2685. A clear break below 2685 could tank the market hard, next support is 2665 and 2650.
-- Above 2700 implies wave C is still in progress with next resistance at 2725-2730.
NQ 5-minute Chart for Monday and Tuesday
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5-Days NQ 5-minute Chart
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