On Monday, NQ opened with a huge gap-down, then after dropping down early in the morning, traded sideway for the rest of the day, remained below broken support, now resistance, the 200-period moving average on the 5-minute chart, now at 6725 as of Monday's closing price..
Key intraday line-in-the-sand for Tuesday will be the 200-ma on the 5-minute chart, 6725.
-- If NQ should gap-up above 6725, we could see a rally in the morning followed by a sideways trading action..
-- Should NQ opened below Monday's swing low, we could see a sell-off in the morning, with the next support at 6600-6620 price zone.
As usual, earning reports could cause unexpected price moves.
