The market opened with a large gap-down, then quickly reversed and rallied up closing the gap & a re-test of prior day low.
Unable to break above very strong resistance, a combination of gap-close resistance + prior day low resistance + FT Pivot Resistance, it then eventually reversed back down to re-test the opening price level. The direction of the morning trend on Wednesday will depend on the morning price action.
For Wednesday, depending on where it trades soon after the opening bell in relation to its first support & resistance levels, NQ and ES either continue its afternoon decline down to its second support level, or rally up to its second resistance level.
NQ First Resistance is 2985, and First Support is 2950,
-- Second Resistance is 3005, second Support is 2910
ES First Resistance is 1640, and First Support is 1622,
-- Second resistance is 1652, Second Support is 1612
Staying inside its first support-resistance levels implies a choppy sideways trading condition.
