Monday was a very bullish day with NQ finally trading back above key price level,.16,450 and closed above that level on Monday, setting up a huge rally on Tuesday.
However, on Tuesday sellers came in right from the opening bell and continue to unload their position until late afternoon when someone engineered a huge rally.
NQ is now in a bearish position as of the close on Tuesday. The pattern continue to be selling by insiders followed by buying by the public. This pattern is sure to be repeated until NQ breaks below key support and buyers gets trampled.
On Wednesday key support level is 16,150. As long as 16,150 is not clearly violated we could see a sideways or rally pastern for NQ on Wednesday.
Breaking below 16,150 is very bearish , with the next support is not until 15,500
