After eight consecutive up days the market finally pullback down on Tuesday, a down day. NQ dropped down to critical support of 6860 before trading sideways, setting up a rally or another leg down on Wednesday
Key price level for Wednesday will be 6860.
-- If they can keep NQ above 6860 it has the potential to get the shorts to cover, resistance is at 6960.
-- A break below 6860 implies NQ may need to pullback down to lower level before attempting to rally again. If so, heavy selling could quickly tank NQ down to lower support at 6760.
The 10-year U.S. Treasury yield rose to its highest level since 2011, extending a selloff in the world’s biggest bond market and raising fresh questions about how high America’s borrowing costs will climb
