On Tuesday NQ finally breakout of its trading range and trend up all day into a new higher high. It was the largest trading range in days. S&P 500 made a new high before retreating. Dow failed to make a new high.
Very often during the current rally, after an up day like on Tuesday NQ would trade sideways for days. Whether or not Wednesday will be a choppy sideways day only time will tell.
Key price level for NQ on Wednesday will be the 5100 whole number resistance.
-- Trading back above 5100, if it can sustained a break above 5100 could trigger another round of buying.
-- Failure to break back above 5100 is an indication NQ is back into choppy sideways mode, first support is at 5080
President Donald Trump shows off the executive order reviving the Keystone XL pipeline, signed on Tuesday. (Evan Vucci / AP)
