On Wednesday morning NQ retraced most of Tuesday afternoon rally before finding support and then rally in a choppy manner. Bothe Tuesday afternoon rally and Wednesday's afternoon rally looks choppy and corrective, thus is vulnerable to another sharp selling if it is not able to stay above key support.
On Wednesday key support and key inflection price level will be 5950.
-- Breaking back below 5950 has the potential to trigger selling that can overwhelm the buyers.
-- If NQ can stay above 5950 selling should be under control until it rally to resistance at 6000
A very powerful hurricane Irma continues to head towards the east coast of the United States, and could inflict very damage and destruction, and that is a big negative for the market.
