On Tuesday, NQ opened with a gap-up above key inflection price zone, and as expected, triggered massive algorithm buy programs, rocketing NQ quickly up to ADR target before trading sideways during lunch and then continued back up in the afternoon and into the close, closing near the high of the day.
Bullish momentum into the close, implying a gap-up open on Wednesday. If so, as long as price can stay above the open, the morning trend should be up.
Breaking back below open implies a move down to close the gap, or even trend down in the morning down to supports.
A gap-down, however, is potentially bearish, particularly if price can stay below the open.
Key inflection price level for Wednesday is 3635
-- Bullish above, first resistance is at 3560, ADr upside target is 3692.
-- Bearish below, first support is 3625, then 3600, ad ADR downside target is 3578.25
