NQ opened with a huge gap-up on Monday, briefly trade above the July high then traded sideways for the rest of the day.
Buying has been exhausted, NQ would need to trade above July high and able to force the shorts to cover to get any rally. Unless it can trigger short-covering NQ is going down towards intraday support on Tuesday, the 200-ma on the 5-minute chart, then trade sideways from there unless of course support gets broken to the downside.
Key inflection price zone for NQ on Tuesday will be at 11,060
-- Bullish above it, if enough shorts are forced to cover we could see more rally.
-- Below 11,060 we could see NQ dropping down to support, first support is the 200-ma on the 5-minute chart.
