After a large up-trending day on Tuesday NQ traded in a narrow-range sideways consolidation pattern.
On Monday, a new higher high in the morning could then be followed by a pullback down move, but expecting it to rally back up as long as the down-move does not get too large.
Key inflection price level for NQ on Monday will be 11,540
-- If NQ opens and trade above 11,540 we could see NQ makes a higher high first, but then pullback down.
-- If NQ should break below 11,540 during the pullback down move we could then see a quick drop down to 112,440 area before rallying back up again.
-- If the open is below 11,540 in the morning we should see a quick drop down to 11,440 before rallying back up to make another higher high, provide it can re-break back above 11,540.
