A sideways trading pattern for NQ on Friday. A sharp rally in the morning that was followed by a sharp decline in the afternoon.
The stock market is stru7ggling to rally, an indication buyers may be exhausted and selling is starting to be more intense due to the sharp rally in the USD which is bearish for the market.
Yje is no setup for a strong sustained rally until NQ can clearly break above 20,700. A sustained break can trigger short-covering rally that could break above double-top resistance at 20,938 area,
There is no sharp sell-off until NQ breaks below 19,900.
