With the Fed and the shorts that were forced to cover their position as the only buyer in town the market rallied on Monday but in a very choppy fashion to a higher high.
The pattern should continue as long as any pullback decline does not breach certain key support level, which is 4425 for NQ on Tuesday.
-- As long as pullback decline does not clearly breach 4425, look for another higher high in NQ with the next resistance at 4500.
-- A clear break below 4425 could be the beginning of a 1 to 3 days decline.
