-- NQ daily trend = Up
-- NQ 60-minute trend = Down
-- NQ 5-minute trend = Down
A pullback-down day for NQ on Monday. After trading sideways in the morning NQ dropped down below range low support 7840 which ran over some trailing stop-loss and tanked NQ quickly down to7800 support.
7800 support held on Monday, then after trading sideways above 7800 for a while, end of day profit-taking push NQ up to close just below broken support 7840 but now it will act as key resistance for NQ on Tuesday.
After over two days of consolidation following a large up day on Thursday, NQ may try to rally on Tuesday. For the rally to gain traction NQ would have to clearly break above 7840 to trigger some short-covering to help with the rally.
Failure to break-back above 7840 is going to attract selling, if so supports are again 7800, 7770 and 7720
Looks like gold is being manipulated down ahead of the FOMC meeting this month where the Fed, under intense pressure from President Trump, is highly expected to cut short term interest rate.
