A gap-up and trend up morning for NQ on Monday, completing its 2nd upleg on the 60-minute chart, wave 3 or C up from July 10 swing low.
If Monday upleg is infact wave 3 up on the 60-minute chart, then wave 5 up should resume right away on Tuesday and should price stay above July 3rd swing high, around 3913 NQ.
Breaking back below July 3rd swing high on Tuesday is an indication NQ is going into a larger ABC pullback down mode.
Breaking below Monday swing low could attract numerous momentum algo sell programs, targeting a fast liquidation drop down to the next support, a gap-close support created on Monday 3898, or down to prior swing high at 3890 now support.
