Massive buy program likely done by the plunge protection team hit the market in the morning just when the market was just about to crash. However, when it ends, the market dropped back down to near day low which happened in the morning.
On Wednesday key level to watch will be at he February 24th day low, 13,054. With NQ trading just above that price level on Tuesday we could see either a consolidation for 2 to 3 days just above 13,054 before crashing down below it, or NQ could crash below that level on Wednesday and then drop down to 12,000 - 12,400 support zone before retesting 13,054 from below.
If the US could pullback from its plan for Ukraine, which is very unlikely but anything is possible, we could see a big rally.
On Tuesday, key intra-day inflection price level for NQ would be at 13,345, bullish above it with resistances above it at 13,500 then 13,750, and bearish below it with key sypport at 13,045, the double-bottom with February 24th swing low.
News or rumours about the war in Ukraine will again be the main driver of trend direction on Wednesday
