Consolidation zones after major breakouts

This is going to be a big week for the markets and its resiliency is going to be tested. It looks like we’re developing a major consolidation zone after breakout. We’re going to want to sit tight today and see the markets develop. Don’t rush into signals or chase after trades. The most important rule is to look for the clear signal and trade the system. Stay out of consolidation zones and wait for the trade to develop. We expect to see downward pressure on the NQ mini and possibly continue throughout the week.