On Monday, after opening with a huge gap-down and then dropping down to double-bottom support with June 9th swing low.NQ rallied the rest of the day breaking back up to above 4420 resistance and then closed above 4420 now acting as support.
Key inflection price level for NQ on Tuesday will be 4420.
-- Trading above 4420 is an indication the rally is still in progress before pulling back down. Next resistance is 4455.
-- Trading below 4420 implies NQ is either going into a consolidation mode or a resumption of downtrend. A resumption of the downtrend target a break below double-bottom low.
