NQ continue to rally to another higher high on Monday after opening with a gap-up. On the daily chart all the major indices are in its blow-off phase, and once blow-off phase ends, reversal is usually very sharp and fast.
Key inflection price level for NQ on Tuesday will be 5255.
-- NQ rally should continue in a fast mode, albeit, narrow range if NQ remains above 5255 on Tuesday.
-- Breaking below 5255 implies a consolidation, a pullback down to support zone, 5232, 5227, 5218, before rallying back up again.
