NQ1!, New Month - New Levels for the Algos

The price action is not showing a warning sign so far. Each consolidation resolves in a breakout-continuation pattern. The bigger consolidation the bigger a leg up. The new month set the new pivot levels for the Algos to aim. The last consolidation above the previous month R2 is to watch. A breakdown may lead to a retest of this month pivot or previous month R1 otherwise the price is heading toward this month R1. The low volume market usually favors the bullish drift.

A catalyst, whatever it might be, is needed to see a change of the sentiment and a strong liquidation move.

09/06/2021 Labor Day Holiday