A wild trading action in the market on Tuesday with NQ opening inside its balance zone, which after a slow morning session was then engineered to drop down below prior day low in order to take out the stop-losses of those holding long positions.
It was then engineered to quickly reversed back up, trapping breakdown sellers, fueling rally engineered to break above prior day high, again, designed to take out the stop-losses of the shorts, after which was quickly reversed back down, this time, dropping down below day low, with small profit-taking rally into the close, setting up a bearish momentum going into the open on Wednesday.
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Key inflection price level for Wednesday is again, 4075 area for NQ.
-- As long as NQ stays below 4075 NQ will remains in a bearish mode, a clear and sustained break below 4055 support should trigger another round of algo selling programs, next support is 4040-4045, then strong support at 3090
-- A sustained break-back above 4075 should trigger another round of algo buy programs, resistance is at Tuesday's swing high.
