Following a large down-day on Friday, after making a lower-low in the morning, the market consolidated sideways in a very narrow range on Monday, a pause before the next big move.
Depending on where it trades in relation to its inflection price level, the next move is either upward or downward. Another narrow-range sideways consolidation day is also a possibility.
Key inflection price level for NQ on Tuesday is 3700, and 1872 for ES
-- Bullish above, next upside target is another higher high above Friday swing high.
-- Bearish below, with first downside target is a break below Monday's swing low. A clear and sustained break below could trigger momentum algo sell programs that can cause a large liquidation decline, NQ next support is 3670 then 3640. For ES the next support below Monday swing low is 1848-1851.
Military conflict in Ukraine should continue to influence the financial markets.
