On Tuesday after a sharp sell-off soon after the opening bell, NQ rallied sharply breaking above the morning high before pulling back down into the close, but remained above the open, setting up a potential up-day on Wednesday, if it can break above key resistance of 4450.
Key inflection price level for Wednesday in NQ is 4423.
--Trading above 4423 will relieve some of the selling pressure but NQ would need to break-back and stay above 4450 to continue to rally, next resistance is at 4475. Failure to break-back and stay above 4450 could attract short-sellers.
-- Trading below 4423 is likely to trigger large algo sell programs that could tank NQ back down, first support is Tuesday's swing low.
