The downtrend continued on Tuesday with a sharp decline in the morning that was follwoed by a late day bounce.
12,200 is a very strong support. The shorts took profit just above support. Wednesday could be a consolidation day unless NQ can crash below 12,200.
Key price level for NQ on Wednesday would be at 12,450 as resistance, and 12,200 as support. If NW should break above 12,450 and can stay above it, we could see NQ rally to 12,600
Breaking below 12,200 is very bearish and could attract heavy selling.
