Monday was a consolidation day, with the market taking a breather, staying inside a narrow trading range following a large up-week last week.
Both NQ and ES are now at resistance on the daily chart, and a larger pullback down is likely to come soon. However, because the current uptrend is still very strong, as long as support is not violated, a consolidation day is a setup for the next trending move once pullback ends.
Inflection price level for Tuesday is 3350, support is at 3335
-- Above 3350 implies the uptrend is still in progress, next upside target is higher-high above Monday's high.
-- Below 3350 is an indication that Monday's pullback is still in progress, support is 3335. a clear break below 3335 implies NQ is going into a large pullback down with the next target at 3280 area.
