The market traded sideways in a consolidation pattern on Tuesday with NQ spotting a bear flag on the 60-minute chart..
Key price level for NQ on Wednesday is 4300.
-- Staying below 4300 is an indication the bear flag is still in play and should resolved itself to the downside. The next lower support is 4200
-- Breaking and staying above 4300 implies Tuesday consolidation is just a setup for the next leg up.
An imminent launching of QE4 by the Fed and the heightened tension in the middle east between the Russian and the American is contributing to the weakening of the USD and the US Treasury Bond and putting in solid bid under the Gold and the Crude Oil markets.
