A large down day for NQ on Tuesday, a trend down day with the open below prior day low then after testing prior day low, trend down all day, and close at the low of the day.
On the daily chart we can see a very clear Elliot Wave pattern of a-b-c 1:1 pullback down from the high on February 2nd, with the low of the day on Tuesday also at the 200-day moving average, now acting as support. As such we could see a bounce from Tuesday low.
To bounce NQ would have to trade back above 12,150. Failure to do so could cause another large down day with the next support at 11,750.
