NQ has been in a pullback-down mode for the last 8 days, dropping down to key 20-DMA on the daily chart. It seens ready to trend back up again.
Key breakout resistance level to break in order to trigger short-covering a buying algos is at 19,600 for NQ.
A sustained break above could trigger 300-400 points up-move in a day (trending day). If so, the next upside target is at 20,000. Strong resistance that can cause a brief pullback. is at 20,370.
Failure to break above 19,600 is an indication NQ pullback is not over, that it is going into a wave-c pullback down to 18,870.
