NQ again traded sideways in a narrow trading range on Monday, the fourth day in a row, without buyers except the PPT, has not been able to mount a rally through strong resistance.
At the same time, there is not many sellers either, until it has decline down far enough to run-over trailing stop-losses and also triggers selling algos, thus until then, it can continue to trade in a narrow trading range.
Monday's trading range, 6520 low and 6580 high, looks good to catapult a breakout to trigger a large trending move out of the range.
Inflection price level for NQ on Tuesday will be 6555
-- Bullish bias above 6555, but key resistance is at 6580. A sustained break above 6580 has the potential to trigger a large trending move up. If so the next resistance is at 6670-6700
-- Bearish bias below 6555, with key support at 6520. A sustained break below 6520 has the potential to trigger a large trending move down. If so the next support is at 6400
