A very bearish down day for NQ on Tuesday with NQ closing near the low of the day. Overnight NQ is already trading down over 100 points from the close.
If there is nothing to drastically change market dynamics at the open on Wednesday we could see NQ tanking down soon after the open as margin selling is triggered. If so key support is at the 200-moving average on the daily chart, now at 15,000. Although it is a strong support, we could see NQ breaking below it even if it is just a temporary break.
Key intraday price inflection level will be at 15,260, bullish above it with upside target at 15,500 as the shorts may be forced to cover.
