$NQ $NQ #Double Three
The spiky drop we got on Monday did not invalidate the Uber Bullish scenario:

NQ-Daily chart
That uber bullish scenario allows bulls to start a big rally from here as long as they hold over the immediate stop 20,700.
However, I doubt that scenario because I do NOT like that shallow wave (ii) down.
If a wave (iii) starts from here it would not fit well extensions of teh previous leg up. I t would have to go a way too high in comparison to the previous leg up. Therefore a lower starting point would work better. To get a lower starting point we need to get a bigger and deeper wave (ii) down.
I favor that much more trickier scenario:

NQ-mini Daily chart
That scenario treats the recent rally as a premature attempt to start a new leg up, a textbook wave (x) up. A failed attempt to start a wave (iii) after a shallow wave (ii) is counted as a subwave (x) up of a wave (ii) down and should be followed by another a-b-c move down in a subwave (y) down.