The stock market sold off hart in the morning on Tuesday but late day buy programs managed to pushed the market back up.
NQ dropped down to support, prior swing high (January 20) before selling was overwhelmed by buying. Afternoon buy programs managed to pushed NQ back up to close the gap, setting up either more rally on Wednesday or a resumption of pullback down mode. The key is where it trades in relations to its inflection price level.
For Wednesday key inflection price level will be 5125 for NQ.
-- A sustained break above 5125 should cause NQ to rally to its next resistance 5145.
-- Staying below 5125 could trigger another rounds of selling activities, support is at Tuesday swing low.
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