With the 5-minute NQ downtrend trend reversed up soon after the open on Friday, I will be looking for the uptrend continue as long as any pullback down can stay above 2310 area, which is my key inflection point for Monday.
- Above 2310 the 5-minute uptrend should continue with the first upside target of 2350-2360 area.
- A sustained break below 2310 implies the 5-minute trend is reversing back down. If so, the first downside target is a re-test of last Thursday swing low, 2280 area.
European sovereign and banking debt crisis should continue to dominate the financial new this week.
