NQ continued to rally on Tuesday then reversed late in the day, dropping down to key intraday support, the 200-ma on the 5-minute chart.
It is very likely that we may get a rally in the morning to retrace the late day selloff. A retracement to the .618-.786 of the late day selloff (9370-9390) would set up another sharp leg down to the next support level, 9100-9200 zone.
A break-back above Tuesday swing high would set up a bullish up-trending day for Wednesday.
Key intraday inflection price level for Wednesday will be at 9330, the location of the floor trader's pivot and the 50-ma on the 5-minute chart (9380) as of the close on Tuesday.
-- Bullish above it
-- Bearish below it
