On Tuesday NQ tried to rally above 7445 prior swing low, now resistance, but failed thus triggered some selling that push NQ back down to morning low.
It was a sideways consolidation type of pattern for NQ on Tuesday, setting up a rally day or a sell-off day on Wednesday.
Key price level for NQ on Tuesday will be 7445 resistance
-- A clear break above 7445 could trigger short-covering rally up to 50-dma daily resistance now at 7525.
-- Failure to break above 7445 could attract another round of selling, with key support at 7260, prior swing high that caused a sharp bounce on Monday.
-- A break below 7260 could cause another round of liquidation selling as stop-loss get run-over, next support is at 200-dma daily, now at 7100.
