-- NQ daily trend is firmly down below 7800
-- NQ 60-minute trend is up
-- NQ 5-minute trend is up
After two large up-trending days from a bounce off the 200 day moving average on the daily chart, NQ consolidated today, the third day, setting up for another up-trending day, or a down day on Tuesday. The direction of the trend will depends on where NQ trades in relation to its key price level.
Key intraday inflection price level for NQ on Tuesday will be 7760.
-- Trading above 7760 implies NQ is trying to trend up again. In order to get more buyers to cause an up-trending day, NQ would need to break above 7800. Failure to break above 7800 is going to trigger another rounds of selling.
-- Trading below 7760 is bearish, implies NQ is in a down-trending mode. Supports are 7700, then 7650
