The market rallied up to resistance in the morning, but was not able to push through resistance. Eventually the market sold off in the afternoon down to key support level then consolidated into the close, setting up either another down-leg in the morning on Thursday or rallied back up, and it would depends on where it trades in relation to support and resistance levels..
Janet Yellen's testimony before congress on Thursday is going to generate volatility in the market, so the Fed buyers would definitely be very active in the market.
Support is 2838 for ES and 3670 for NQ
Resistance is 1848-1851 for ES and 3700 for NQ.
-- A break aove resistance could cause short-covering rally,
-- A break below support could cause liquidation drop.
-- choppy inside the range between support and resistance
