NQ traded sideways on Tuesday after a trending day on Monday. Wednesday could be another trending up day, a resumption of the current melt-up because of the Fed continuous liquidity injection into the system , or a pullback down day in spite of the Fed liquidity injection as the market is in extreme overbought on the daily timeframe.
Key price level for NQ on Wednesday morning will be 9070.
-- Trading below 9070 is bearish, but NQ would have to trade below Tuesday low to trigger more selling
-- Staying above 9070 is bullish and could cause a trending up day again. However, NQ would need to break above and stay above 9090 to trend up.
