After hitting the 2600 resistance level, NQ has been consolidating below the 2600 level for three consecutive days. NQ should continue to consolidate sideways or pullback to lower support levels unless it can clearly breaks and stays above the 2600 level.
Key inflection level is 2590.
- Above 2590 implies the next upleg is in progress, targeting a break above 2600 level. Whether it will stay above that level on a break only time will tell. However on a break, it either rocket up to the next upside target or reverses back down to support.
- Below 2590 implies it is in a pullback mode, down to 2575.
