NQ was engineered to open higher above pervious swing high on Tuesday, hoping for short-covering or buying activities. However, it failed to trigger any buying activities or any short-covering activities. Without sufficient buying activities, NQ is going to go back down.
Key support now is the previous swing high from July, 8050.
-- Staying above it should keep selling under control. As such we could see more sideways trading action.
-- Breaking back below 8050 is going to generate algos selling and tank NQ back down.
