The stock market was close on Monday following Friday';sideways type of day, and will reopen on Tuesday.
NQ has been trading in a trading between 12,200 support and 12,900 resistance for over two weeks and may be ready to breakout out of the range sometime soon, and when it does, we could see NQ going to the next trading zone.
If the break is to the downside, below 12,200 the next lower support level is at 11,500. If the break is to the upside, it has to clearly break above 12,900, the next resistance zone is 14,000.
Over the shorter term time period, on the daily chart of NQ the pattern is indicating a potential move down to 12,000 and then bounce back up to retest 12,900 resistance.
A clear and sustained break below 12,000 is an indication NQ is not retesting the high from February 02 swing high.
