On Monday NQ opened with a gap-down below key support, but buyers were ready to buy and overwhelmed sellers. NQ slowly rallied back up above resistance and spent the rest of the day rallying up in a very and narrow range fashion.
On Tuesday as long as NQ can remain above 5335, the rally should continue, next upside target is a break above recent swing high. Trading back below 5335 is likely to trigger selling to take NQ down to retest support at 5310
The stock market is currently still in a strong and fast up-trending parabolic mode, the type of trend that could end abruptly and reverse sharply. The end of the current uptrend should be not too far away.
