NQ stay above key level on Friday, as it pushes higher it eventually triggered some short-covering which helped pushed price up to near 2585 resistance level.
Key Level for Monday is 2565, resistance 2585 and support 2550-2555
- Bullish above 2565, targeting a break above 2585. If it can break and stay above 2585, on a clear break, next upside target is 2600.
- Below 2565 implies NQ is going to test last Thursday and Friday swing low. A clear and sustained break below 2540 can trigger some fast liquidation decline, targeting 2500 - 2510.
- Below 2500, it is in crash mode, next support is 2425.
Banks downgrade by Moody's Investor Services on Friday is detrimental to the health of the whole credit market.
