NQ opened with a gap-up on above 13,000 key breakout price zone on Monday, and then as expected, pushed higher all day as stop-losses got run over. There was a small profit-taking pullback at the end of the day.
With such as large rally day on Monday, there is a chance that we may get a pullback soon after the open on Tuesday. If so it should be shallow, with pullback target down to 13,540 or so before trending back up again.
With more shorts that may still need to cover their positions on Tuesday, we could have another large up day on Tuesday, with the next resistance at double-top at 13,875 area.
Should we get a much deeper pullback down move on Tuesday, we could see Tuesday as a consolation day, a setup for a large trending up day on Wednesday.
