Both NQ and ES opened with a large gap-up, then after running upto resistance, traded sideways into the close, closing at key support for NQ.
As long as 3580 support hold NQ should either trade sideways up, but it needs to clearly break above 3595to trigger algorithm buy programs. If so, it should test or break above 3610 resistance. NQ support below 3580 are 3565 and 3540. A clear break below 3540 could trigger another round of algorithm sell programs, with next support at 3500 area.
For ES, support is at 1860 and resistance at 1868. Breaking out of the range implies a move to the the next resistance or support level.
Don't forget - Sell in may -- go away -- May to October is a normally bearish period. It looks like many investors are selling ahead of the bearish period which usually starts in the month of May.
