NQ opened above prior day high which immediately forced the shorts to cover causing a sharp spike. But once all the short term shorts traders has covered NQ dropped back down simply because there is no more buyers up here.
NQ closed back down and closed at prior day just above key line -in-the-sand 15,620, which will be a line-in-the-sand again for NQ on Thursday., bullish bias above it and bearish bias below it.
With most large institutional investors out of the office for the long weekend holidays, we are ;likely going to witness another choppy sideways type of day.
