Another large down day for NQ on Monday following a large down day on Friday. The low of the day for NQ was below key 20-dma support on the daily chart..However NQ managed to close above the 20-dma on the daily chart.
Key line-in-the-sand price level for NQ going forward ios at 15,400, bullish above it, and bearish below it.
On the short-term intraday time-frame, key inflection price level for NQ on Tuesday is also at 15,400, bullish above it with key resistance at 15,520. A sustained break above it could trigger some short-covering rally day as the shorts may be forced to cover.
