After dropping down to lower low below Friday low soon after the open on Monday NQ reversed and rallied the rest of the day on Monday.
With NQ breaking and closing above key resistance 10,850, now support going into Tuesday trading, it sets up a bullish tone for Tuesday.
With NQ in overbought zone on the 5-minute chart at the close, I would be looking for a pullback in the morning on Tuesday before it rally again, that is as long at it does not break below key support, 10,850.
Breaking below 10,850 is bearish, and it is expected to decline again, target is a break below Monday low.
