NQ continued to rally with a choppy pullback in the morning. The daily trend is still up but now starting to bump into overhead resistance, starting from 15,500 to 15,700.
How NQ react as it approaches those resistance zones from prior consolidation low will help us decide whether or not the current rally from March swing low is about to end and a sharp pullback down towards the 14,250 zone is going to occur
Key trigger for the potential pullback is a break-back below Tuesday low of 15,030. If so, the first downside target is 14,250.
The momentum of the current rally on the daily chart is still very strong, as such we could see NQ rally to continue. A break-back below 15,000 would indicate a sharp pullback is coming..
Key intraday line-in-the-sand for NQ on Wednesday will be at 15,170.
