After trading sideways in the morning on Monday NQ suddenly broke below 4475 support level, triggered algo sell programs that quickly tank NQ down to key lower support 4550, briefly viloated 4450 support befor finding enough buyers to cause NQ to rally back up to broken support now resistance 4575, with the close just belowit.
Key inflection price level for NQ on Tuesday will be 4575.
-- Bullish bias above it, with first resistance at 4600. A clear and sustained break above 4600 is likely to trigger a short-covering rally.
-- Bearish bias below it with first support at 4550. A break-back below 4500 is likely to trigger another round of sell algos that can quickly tank NQ down to 4500 support.
Both the 60-min time-frame and the daily time-frame for NQ are currently in sell-mode (bearish)
