On Tuesday NQ opened with a gap-down below support then rallied back up to re-test broken support-turned resistance, twice, before resuming its downtrend that continued on into the close. NQ is in a down-trending mode on both the daily chart and the 60-minute chart.
NQ was in oversold territory at the close so there may be some pullback in the morning, but as long as pullback does not violate key resistance the downtrend should continue, supports are at 3950 and 3930. NQ may have to break below 3930 swing low before a larger pullback is to be expected.
Key resistance on Wednesday is 3975.
-- Below 3975 is an indication that the downtrend is continuing supports are 3950 and 3930.
-- Breaking back above 3975 implies NQ is in a pullback-up mode with resistance at 4000 then 4025
