Expect the NQ to rotate near 7400 for a few weeks before mounting enough upside momentum to breakout to the upside. We've already seen a 100% Fibonacci price extension of the previous price rotation. This move will likely prompt a brief price stall (near 3~10+ weeks) before a further attempt at an upside price breakout.
Earnings will likely drive a broader range price rotation as Technology and Biotechs report varied earnings. Overall, this rotation should not be damaging to price. The 7400 level is operating as a magnet for price and my proprietary indicators are showing that price should "hover" near this level for many weeks.
I will alert you when I believe the US markets will breakout.