After breaking below support on Friday and then consolidation on Monday, after just one consolidation day NQ downtrend resumed on Tuesday. A large down day with a clear break below the February-March swing low,closing below the broken support.
Key price level for NQ on Wednesday will be at Tuesday consolidation low, 13,100, and it will serve as key line-in-the-sand rt/resistance price level..
If NQ should pullback up to 13,100 on Wednesday, there would be a lot of algos waiting to sell at or below 13,100. However, if NQ should break back above 13,100, any pullback to it should be bought.
