NQ Opened with a gap-down on Tuesday, then after a brief decline, NQ rallied back to morning high, a sideways type of day.
On Wednesday key inflection price level will be at 11,800, bullish above it, resistances are 11,950, then 12,070-12,125.
Bearish below it,
With QT starting net week, June 01, anything is possible. The market is in oversold condition, but with the Fed draining liquidity from the market, the market may not get its oversold bounce. It may just continue to drop and drop.
Watch key levels, 12,500 for NQ, the last pullback high, and technical trailing stop-losses congregates just above that level.
