Another sideways consolidation day for NQ on Tuesday. At the end of the day the pattern is indicating imminent breakout and trending up day on Wednesday. However, the market has been shopwing bearish signal in overnight trading.
Key level for NQ to break on Wednesday is at 20,200 resistance. A sustained break should cause a trend-up day. Failure to break isd bearish.
With Wednesday as the 4th consolidation day NQ would need to trend up. Failure to breakout is an indication NQ would need to pullback to lower level before trending back up again, that is if key lower support, 19,900 holds.
