On Monday NQ opened and quickly rallied to resistance, 12,500 area before profit taking and resistance selling came in to sell which caused NQ to drop back down to support, which is the Friday's swing high of 12,300 area.
On Tuesday, key support for NQ will be at 12,300, bullish above, bearish below it.
On Tuesday, depending on where NQ trades in the morning in relation to 12,300, we could see a rally to re-test 12,500 resistance, and stays inside the 12,300-12,500 trading range.
Or, if NQ trades below 12,300 in the morning and then able to drop down below 12,270, we could see NQ dropping back down towards 12,050 support.
