On Monday NQ consolidated between 4285 support and 4300 resistance all day, unable to break above 4300 resistance or breakdown below 4285 support. For Tuesday NQ can either continue to stay inside the range or breakout of the range.
A breakout of the 4285 - 4300 trading range has the potential to trigger algo buy or sell programs in the direction of the break. However, with most large traders out of the office for the Christmas holidays we must be on the lookout for false breakout that leads to reversal.
