Another very narrow range sideways action on Tuesday. The market needs some pullback-down move to generate larger trading range, simply because all the shorts that wants to cover are all out of the market, and most of the buyers that wants to buy has bought.
That left mostly the Fed buyers pushing the market up day in day out, and without any major new participants, the up move is going to be small and slow.
NQ closed at its key price level on Tuesday, and after two day of consolidation NQ may be ready to make a bigger move - upwards, but only if it can find lots of new buyers. And as long as it can stay above 3515 NQ is either going to continue to trade sideways or rally up to the next upside target - 3535.
Trading below 3515 is an indication NQ is going for a larger pullback down, next support 3500.
