NQ Daily Trend = UP
NQ 60-minute Trend is UP
NQ 5-minute Trend = Up - in overbought territory
On Tuesday NQ opened with a huge gap-up. Then after pulling back down to key intraday support, the Floor Traders Pivot & the 200-ma on the 5-minute chart, NQ reversed back up and rallied to a higher high above early morning high
With NQ 5-minute chart in deep overbought territory as of Tuesday's close, we could see NQ pulling back down in the morning, and as long as supports is not violated on any decline, the rally should resume.
Key intraday inflection price level for NQ on Wednesday will be 7945.
-- Should NQ managed to stay above 7945 at the open on Wednesday we could see a continual rally.
-- Should NQ trade below 7945 we could see sideways action, with decline target down to its key support at 7920.
