On Tuesday, after the early morning consolidation NQ trend back up making a higher high above morning high in the afternoon, spotting a 5-wave rally from Monday swing low. At the end of the day, NQ was still in wave 5.

For Tomorrow, a break below 50-ma on the 5-minute chart is an indication that wave 5-rally has ended, and that NQ is going into a consolidation or a reversal. A consolidation or a reversal implies a decline towards the 200-ma on the 5-inute chart.

NQ high of the day on Tuesday was at key 50-ma on the daily chart, a critical level going into Wednesday, a line in the sand resistance going forward.