As expected, with the 60-minute chart already in a pullback down mode since last week Friday, NQ opened with a gap-down below key support price level, 4520 on Tuesday, then sold-off hard most of the day. The sellign was broad based, with the Dow and the S&P 500 also in strong sell-off mode.
-- The sell-off could continue on Wednesday if NQ could not break-back above 4503 key resistance, Trading below Tuesday morning low is likely to trigger another round of algo sell programs with the next strong support at 4380.
-- In the event that NQ break back above 4503, the next resistance is 4520.
