With most traders still out of the office for the Christmas holidays the stock market traded sideways in a choppy narrow range trading pattern. This type of pattern should continue until the new year when most traders are back to work.
NQ opened with a gap-down, then dropped down to critical support 6435 in the morning on Tuesday before rallying back up to the open. As long as NQ can stay above 6435 it should remains in a choppy sideways mode, or may rally back up towards the recent high.
Trading below 6435 is a bearish sign, especially because this is a bullish period of the year, the Santa Clause rally timeframe.
