Trade Guideline For Monday (Nasdaq NQ)

NQ consolidated for the second day in a row on Friday. It looks ready to break our of the range, and trend back up again. If so, it should stay above key inflection S/R level on Monday, and that level is 2730.

• A clear and sustained break above 2730 has the potential to trigger another round of short-covering rally, with upside target  2750-2755.
• Below 2730 implies more consolidation.

Hot money is beginning to flow back into the Eurozone, selling in US treasury and buying in Euro denominated bond, resulting in a recent sharp rise in the yield on the 10-year US treasury note.