A sideways consolidation day for NQ on Monday. The technical pattern on the 5-minute chart and the 60-minute chart is bullish, which target the next resistance at 20,900.
In order to trigger a rally NQ would need to break above key inflection price level at 20,680 and then push higher. It needs to break above Monday high to trigger short-covering. If so NQ should rocket up to 20,900 before dropping back down to support, 20,700
Key indicator to watch is the USD index, Any sharp rally in USD is going to be bearish for the stock market and may stall any rally attempt.
