On Monday NQ was engineered to opened with a gap-up but without buyers, it simply traded sideways in a very choppy narrow range price action. There was not much selling activities simply because NQ remains above support. The choppy price action is likely to continue unless they are willing to trigger massive buy programs.
On Tuesday, the short term 5-minute support will be at 4875.
-- As long as profit-taking selling does not violate 4875 support, the choppy rally should continue.
-- Clearly breaking below 4875 is likely to trigger some selling that could take NQ down to lower support, 4835 - 4845 support zone.
Chart Of The Day: Global Stocks-----Hanging By A Thread Of QE, Threatened By Sinking Growth
