After spending most of the day consolidating sideways below 5440 resistance, the end of the day buy programs managed to break above 5400 and then closed above 5440.
Wednesday could be a very interesting day. After four days of consolidation NQ may be ready to go into a rally mode. To do so, NQ would need to stay above 5440, then break above its recent high 5455 and stay above, as a failure to stay above its recent swing high after break above it could trigger an avalanche of selling.
Trading back below 5440 is an indication NQ is going to continue to consolidate or a retest of the 5400 support.
