With a historic low volatility (low vix) NQ traded sideways in a choppy narrow trading range on Monday. By the end of the day on Monday it looks ready for a relatively larger pullback down on the 60-minute chart.
Key price level on Tuesday is 3795.
-- Trading below 3795 is an indication that the 60-minute pullback down is already in progress, but with vix at a very low level I am not looking for a large move down.
-- Trading above 3795 implies the uptrend is still in progress, next upside target is a hgher high above Monday swing high.
