NQ opened above inflection price level on Tuesday, as expected, rallied back up to 200-ma resistance on the 5-minute chart, and then eventually broke above it, and remained above the 200-ma at the close.
With NQ closing just slightly above the 200-ma on the 5-minute chart, we could see either a rally if it trades above the 200-ma, with the next upside resistance at 7510n or,
If NQ opens below the 200-ma on the 5-minute chart we could see a down day on Wednesday. If it is a down day we could see large liquidation selling.
With the long holiday weekend coming this weekend, we could see a very active PPT supporting the stock market.
