The stock market was closed on Monday for the Martin Luther King holidays. The stock market will reopens on Tuesday.
NQ remains in buy mode on the daily chart, but both the Dow and the S&P 500 have been trading sideways for weeks, the rally momentum has stalled, and unless they come up with massive buy programs, the forces of deflation is going to overwhelm the buyers, but it is very likely they are not going to pull out their support prior to the Presidential inauguration on Friday.
On the 5-min chart, key support for NQ on Tuesday will be 5045
-- Above 5045 the rally is going to continue, targets are 5080 to 5100.
-- Trading below 5045 implies NQ is going to pullback down to lower support, at 5025.
