A choppy and narrow range type of day for NQ on Tuesday as NQ continued to be stuck below strong resistance zone between 4440 to 4475 area. It may need massive buy programs to break through resistance.
The daily chart is still in an uptrend and in buy mode but the momentum has greatly decelerate. The 60-minute trend is also indicating a slowing down in momentum, that could lead to a larger pullback down move.
On the short term time frame, key inflection price level remains at 4400.
-- NQ may try to rally above 4400.
-- The longer it stays below 4400, the more likely profit-taking could set in and take the market down. Next support is 4465.
Gold may be setting up for the next fast move up once the pullback to its 50-DMA moving average on the daily chart has ended.
