Unless it can break out above 7490 resistance and triggers more short-covering, NQ may need to pullback down to support before rallying back up again.
Key support/resistance price level for NQ going into Wednesday's trading is 7475.
-- If NQ can stay above 7475 short-covering may help push NQ above 7490 resistance and trigger more short-covering. If so the next upside target is a break above July 25 swing high.
-- Breaking below 7475 could trigger some profit-taking decline. If so the next support is at 7440.
