After making a higher high in the morning, and after a trending-up day on Monday, NQ spent the rest of the day consolidating, closing just below key inflection price level. Once consolisdation ends, the uptrend should resume, that is, as long as key support holds.
Key inflection price level for Wednesday is 3610 in NQ.
-- Trading above 3610 is an indication consolidation has ended and that the uptrend is resuming.
-- Trading below 3610 implies NQ is still in a pullback mode, with key support coming in at 3600. As long as 3600 support holds, NQ should resume its rally, but it has to break-back above 3610 to trigger algorithm buy programs.
-- A clear break below 3600 is an indication NQ is going into a larger pullback down, next support is 3580
