A sideways consolidation pattern again for NQ on Monday the second consecutive consolidation day following large trending down day.
Prior consolidation lasted for two consecutive days following large trending down dat. If the pattern is still continuing we should see a large trending down day on Tuesday,
If so we should see NQ dropping down breaking technical support and continue to trade below Thursday July 25th swing low at 18,887 and triggering stop-losses.
Failure to break below Thursday swing low is an indication NQ is either contuning to trade sideways or rally.
FOMC meeting starts on Tuesday, tomorrow with the announcement on Wednesday.
