NQ current uptrend on the daily chart looks tired and exhausted, and in overbought conditions, ready for a pullback, but at the same time, it can continue to chop its way upward.
On Tuesday NQ stayed above key inflection price level of 4370 but without any new buyers except the Fed HFT machine, it simply traded sideways in a narrow trading range.
On Wednesday, key support price level for NQ is 4375.
-- As long as NQ can stay above 4375 NQ is either going to trade sideways or continue to trend upward.
-- Breaking below 4375 could trigger some algo sell programs, with the next support at 4345
