Another sideways price action for NQ on Tuesday, trading below triple-top, unable to breakout above it. Unless the Fed buyers can successfully engineered a clear and sustained breakout above triple-top high, NQ may need to pullback down to support and suck in more short-sellers that would fuel the rally on a breakout above the high.
Key price level for NQ on Wednesday will be 4550 price zone (triple-top) resistance and 4530 support.
-- Breaking out above 4550 resistance has the potential to trigger more buying activities that can cause an up-trending day.
-- Breaking below 4530 could trigger algo sell programs that can quickly tank NQ down to 4470 support.
