As expect, after first testing Floor Traders support in the morning on Tuesday NQ rallied to a higher high above Monday swing high before reversing back down to key support, and close right at support, setting up a possible gap-down and run-down day on Wednesday.
Key Line-in-the-Sand for NQ on Wednesday will be at 10,520
-- Trading below 10,5200 has the potential to trigger heavy selling. If so, the next major support is not until 10,300.
-- Trading above 10,520 could cause a temporary rally before dropping back down. NQ would need to rally above 10,640 to cause a short-covering rally.
