With the Fed announcement on Tuesday that they will basically do whatever it takes to support the equity market and then backed their words with buy programs NQ (and all major US equity indices, Dow, S&P 500, etc) rallied fast and hard with NQ making a higher-high above yesterday's high, essentially reversing the trend back from downtrend to uptrend on the daily chart.
For NQ on the daily chart, the uptrend should continue with or without a consolidation, as long as any pullback down does not clearly violates key support zones, which for Wednesday is 3555 for NQ.
As long as pullback down in NQ does not violates 3555 support, NQ should continue to rally up to new highs.
For Wednesday morning, NQ above 3575 is an indication that the fast trend up is still continuing, next resistance is 3595.
Below 3575 in the morning is an indication NQ is going into a pullback mode. As long as it does not breach 3555 support NQ should continue back up after consolidation.
Clearly breaking below 3555 indicates NQ is reversing its trend back down.
