Nasdaq opened with a gap-up on Tuesday and then after spending about 1.5 hours trading in a very narrow range, NQ tank following Obama's speech regarding military strike on Syria. It dropped slightly below gap-close before rallying back up into the close.
On Wednesday key level to watch for is 3095 area.
-- Above 3095 implies potential rally to break above Tuesday's swing high, with the next resistance at 3120. It would need a massive Fed-induced short-covering rally to clearly break above 3120.
-- Below 3095 implies NQ is going down to support at 3070. It would need a strong selling pressure to clearly break below 3070, but if it does, next support is 3045.
