As usual, early morning buy programs managed to push NQ up to above Friday's high before pulling back down and traded sideways for the rest of the day.
The current uptrend on the daily timeframe is losing momentum and looks ready for a larger two to three days pullback down to breakout price level before resuming its uptrend, as long as breakout price level now important support level is not violated on any pullback down move.
On the 5-minute timeframe, key support for Wednesday will be 4780.
-- Remaining above 4780 support on Wednesday is an indication that NQ is going to make another higher high before pulling back down.
-- Trading below 4780 implies NQ is in a pullback down mode, next support is 4735 - 4745.
