NQ trend down sharply in the morning on Monday only to then reversed sharply before lunch, closing at the high of the day.
The rally was very choppy, clearly manipulated by the Fed, and no genuine buying. The upside momentum on the daily time frame is clearly slowing down. It is now just a matter of time when the stock market is going to tank and tank and there is not much the Fed can do about it. For now, we tends to get sharp sell-off in the morning followed by choppy rally.
Key support on Tuesday will be at 15,070. Any pullback that stopped at or above 15,070 will get bought. Breaking below 15,070 will be bearish.
If NQ could break above 15,170, and triggers short-covering, we can see NQ spiking up to 15,200-15,300
