NQ Guideline For Wednesday

After s sharp selloff in the morning NQ reversed and spend the rest of the day rallying in a choppy manner, closing just below key intraday resistance, 10,700.

 

If NQ does not clearly break above 10,700 seller are going to re-short NQ again, which would likely cause another day of short sell-off day.

 

Should NQ break above 10,700 we could shorts being forced to cover, thus providing a lift for the market.

 

Strong support remains at 10,300 zone