Although NQ daily trend is still up, the current rally momentum is slowing down, an indication that NQ may be ready to go into a 2 to 3 days pullback down mode.
For Tuesday, key price level will be at 8760.
-- A sustained break below 8760 is an indication that NQ is going into a pullback down mode, a break likely to trigger heavy selling that could tank NQ down to the next support at 8560. Keep in mind that NQ was in oversold condition on the 5-minute timeframe that could consolidate first in the morning before selling continues.
-- Trading back above 8760 in the morning on Tuesday implies NQ is not ready to pullback down.
Crude oil Futures, May2020 contract dropped down to minus $40 per barrel, the first time ever in history, and that is bad for the market.
