On Tuesday, NQ opened with a gap-down to support and then rallied back up to close the gap before reversing back down, breaking below key support. After finding support at just above prior swing high, NQ spent the rest of the day rallying back up, closing in the middle of the trading range.
With the mid-term election over, the market can now make another trending move, with the Republican party winning both the house and the senate, the direction is likely to the upside, but, as always, anything could happen, so be ready for a trending move up or down.
Key price inflection level for NQ on Wednesday is 4150.
-- Trading above 4150 is likely to trigger algo buy programs. If so, next upside target is a break above Monday's swing high to 4200.
-- Bearish below 4150 but support remains at 4120 and 4100.
