After rallying to just below the rally high of March 29th on Monday NQ sold off hard on Tuesday. Unless NQ can break-back above March 29th high, the breakout high on March 29th would be a falsebreak high.
If so, we would see massive and fast selling as many traders who bought the breakout on March 29th and the pullback low on Friday, would have to either bail or get run-over.
Key price level to watch for going forward is March 29th high 15,268) and and the pullback low on April 01, (14,722)
A break above March 29th high (15,268) is bullish, and A break below April 01 low, 14,722 is bearish.
Key intraday price level for NQ on Wednesday is 14,855, bullish above it, bearish below it. However, NQ would need to clearly break above 14,963 to continue to rally higher.
