NQ trend up most of the day on Tuesday but profit-taking and selling caused a very large and sharp drop in the last hour of trading on Tuesday, setting up a bearish tone for Wednesday trading.
Depending on where NQ would open and trade on Wednesday morning, it is possible that NQ may only have one pullback up day. If so, it is an indication the NQ is very bearish. Normally we would get a 3-day pullback from oversold zone.
Key inflection price level for NQ on Wednesday will be at 14,600, bullish above it with resistance at 14,740, and bearish below it, with strong support at 14,000.
