A choppy consolidation day on Monday as we expected after a trending day on Friday. Now that NQ has consolidated the large trend day, at the end of the day on Monday NQ looks ready to trend back up again with a trending day pattern on Tuesday..
There is a very strong resistance at 13,400-13,420 that could pose a problem for NQ on Tuesday. In order to have a trending up day, NQ would need to break above 13,420 and then stay broken in order to trigger short-covering.
If so, the next target and resistance is 13,600-13,700.
