For the scenario, the price would need to reverse then break the trading range support ($11,334). If this were to occur, the NDX would likely find support at around $10,500. Failure to break the trading range support would invalidate the scenario.
Wyckoff abbreviations: automatic rally ( ARa ), selling climax ( SC ), secondary test (ST), upthrust (UT), failed upthrust (FUT), shakeout (SO), sign of weakness (SOW), upthrust after distribution (UTAD).
This is not financial advice. I am not your financial advisor. This is my opinion.