On Monday, with the hope of imminent 2.2 trillion dollars unsanitized money printing the market gapped open higher, but has to consolidate before running back up, now on wave 5 rally leg from September 24 low.
NQ can continue higher as long as it stays above 50-ma on the 5-minute chart. Breaking below 50-ma on the 5-minute chart implies end of current wave 5 upleg, and a return to choppy sideways price action, with downside target at 200-ma on the 5-inute chart.
Key line-in-the-sand for Tuesday will be ayt 11,340.
