NQ traded down on Tuesday, the third down days in a row, As such it would either try to rally on Wednesday, with key inflection price level at 11,550. In order to rally, NQ would need to trade above 11,550.
NQ is bearish below 11,550, but it in order to start a large down trending day NQ would need to trade below 11,400 to start running over trailing stop-losses.