NQ morning rally briefly broke above 5440 key resistance before reversing back down. As expect a false breakout would reversed sharply, which was exactly what NQ did on Monday. After breaking out above 5440 NQ reversed sharply down.
The decline stop just above 5400 key support level before buyers and profit-taker rallied NQ back up towards 5440 resistance again.
With NQ remaining inside the 5400-5440 trading range, the setup for Tuesday would be similar to the setup for Monday.
-- A sustained break out of the range is likely to trigger a trending move in the direction of the break.
-- A false breakout of the range implies fast reversal that would test the opposite range.
The great debt deflation. Commercial bankruptcy filings, from corporations to sole proprietorships, spiked 28% in March from February, the largest month-to-month move in the data series of the American Bankruptcy Institute going back to 2012
