The stock market sold off hard again on Tuesday after a one day rally off the 200-dma on the daily chart. Both the Dow and the S&P 500 retested their 200-dma again on Tuesday, a very bearish sign.
Although Nasdaq NQ still trades above its 200-dma, it could get dragged down by the broader market if in fact the Dow and the S&P 500 would break bellow their respective 200-dma.
Key price level for NQ going into Wednesday will be Tuesday low.
-- A break could crash the market, next potential support is 6300. However, if the Dow and the S&P 500 break below their 200-dma, NQ could easily slice through its 200-dma.
