A very large down day for NQ on Monday, breaking below July swing low, but then closed back above it. Monday low was also starting to get into overbought zone on the daily chart, and could bounce and get into a multiday rally at anytime now.
On the intraday 5-minute timeframe, NQ close above its 50-moving average on the 5-minute chart, 14,420, which will me inflection price level for NQ on Tuesday.
As long as NQ can stay above the 50-ma level on Tuesday we could see more rally or just sideways trading action.
Breaking back below 14,420 could attract another round of selling.
