A narrow-range sideways consolidation day for NQ on Tuesday following a large trending-down day on Monday, a setup for a strong trending day, likely on Wednesday, the direction would depends on where it trades in relation to key support/resistance levels.
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Key price level for NQ on Wednesday is 4035 - support, 4060 resistance.
-- Trading below 4035 is likely to trigger another round of momentum algo sell programs. If so the next support is 4005 double-bottom support, if that does not hold then the next support zone is 3980-3990 prior swing high.
-- Trading above 4035 implies more consolidation with resistance at 4060. Trading above 4060 could trigger momentum algo buy programs. If so, the next resistance is 4075-4080 prior swing low.
