On Monday NQ remained inside prior day range, as such traded sideways in a narrow trading range. NQ also remained inside the daily chart 50-ma support at 7295 and daily chart 20-ma resistance at 7390. Until it breaks out of the 7295-7390 trading range NQ may continue to remains choppy.
On the 5-minute chart key inflection price level is 7380.
-- NQ would need to break above 7390 to trigger buying algos. However, it needs to break clearly above 7405 to cause short-covering that can catapult NQ up to break double-top resistance at 7460.
-- Trading below 7380 is bearish, strong support is not until 7295-7300
