On Monday NQ traded sideways in a narrow range, remaining above its 200-ma on the 5-min chart all day long, setting up for potential breakout day, breaking out of the range, either upward, or downward breakout.
Key price range for Tuesday's trading on NQ will be 6900 key support and 6935 key resistance (6900-6835).
-- If the breakout is to the upside then the next resistance is at around 7000.
-- If the break is to the downside, strong support is at 6800. It would take a very bearish market to break below 6800
With Trump trade negotiators now in China, we could expect the PPT to be very active in supporting the stock market for Trump to make Trump looks good, but at the same time, selling could get intense as investors worry about the negative outcome of the trade talk.
