NQ traded sideways in a very narrow range on Tuesday. However, after the close of the cash market the Fed spiked NQ about 130 points in a very short period of time, into a new higher high.
On the daily chart, NQ parabolic move up is still intact, unless NQ trades below key support at 13,400 , we should see another higher high print on Wednesday
Key inflection price level for NQ on Wednesday will be at 13,500, bullish above it. Trading below 13,500 could cause a sharp drop to 13,400 key support level.
If NQ should drop below 13,400 we could see a large decline.
