With many traders still not back from the labour day weekend holiday this week, the stock market may continue to trade in a narrow trading range.
But with the daily chart and the 60-minute chart still in a strong up-trending mode, NQ may just continue to melt up in a slow and steady fashion, unless of course profit-taking gets too heavy. If so we may get a selloff day.
Key Line-In-The-Sand for NQ on Tuesday will be 7660.
-- NQ should continue to be bullish above 7660. If so, the next upside target is a break above Thursday swing high.
-- Breaking back below 7660 is likely due to heavy profit-taking activities. If so the next support is 7630
