A huge gap-down open in the equity market on Monday, then traded sideways all day. If the consolidation has ended we could see a resumption of the decline on Tuesday.
However, because Monday is the third huge consecutive down day we likely see more consolidation on Tuesday. The key is where NQ opens in relation to its key intraday inflection price zone.
For NQ on Tuesday, key inflection price zone is at 9100.
-- Trading above 9100 on Tuesday is an indication NQ is still in a consolidation mode, with resistance at 9200 then 9270-9280, then 9400 which is a very strong resistance.
-- Should NQ trades below 9100 we could see another strong selling with not much support until 8100
Gold price spiked again on Monday
