Monday was a continuation of the end of day Friday's uptrend, an open-drive wave 3 rally. After a lunch pullback, likely wave 4, NQ made a higher high at the end of the day.
If wave 5 has ended, NQ should go into a pullback down mode on Tuesday. As long as the pullbck does not violates key support, the uptrend should resume.
Breaking below key support is an indication that larger pullback down is in progress.
Key inflection price leve for Tuesday is 3610.
-- Trading above 3610 implies wave 5 rally is still in progress, targetign a break above May 13 swing high at around 3624.
-- A clear break below 3610 is an indication NQ is going into a consolidation down mode. with key support at 3600. A clear break below 3600 could trigger momentum algorithm sell programs than can tank the market hard, next support is 3570, then 3540.
