NQ opened with a huge gap-uo and then rallied to key resistance at 12,200 before dropping back down and trade sideways. all day.
12,200 will remain a key level for NQ on Tuesday, below 12,200 sellers will continue to come in to see resistance, 12,200.
However, if NQ could break above 12,266 area, we could see some short-covering that can cause NQ to rocket up to the next resistance zone, 12,400 - 12,500 area.
Key intra-day inflection price level is at 12,050, bullish above it and bearish below it.
