The battle between central banks buying and the forces of deflation continued on Monday with a huge gap-up open designed to trigger buying activities was taken down by the market forces of deflation.
NQ has been stuck between 4435 resistance and 4355 support for the last five day. With the trend on the daily timeframe still down NQ would need to clearly break above 4500 to turn NQ back to bullish mode. Until then sellers will remain very active, selling rallies or gap-up open.
Inflection price level for NQ on Tuesday will be 4400, with 4435 as resistance and 4355 as support.
