On Monday, NQ opened below its 50-day moving average on the daily chart, thus triggered massive selling that lasted most of the day. It was a very large down day.
NQ is now clearly in a downtrend on the daily chart, with downside target its 200-dma on the daily chart, now at 13,800.
Key level to watch would be the 50-dma on the daily chart, now at 15,180. As long as NQ remains below 15,180, selling pressure should continue.
Key intraday inflection price level for NQ on Tuesday will be at 14,900, bullish above it, with first upside resistance at 15,150. Bearish below it with first support at 14,800 then 14,400.
