Worse than expected employment report released before the market opened on Friday resulted in a big gap-down open. Buy programs kicked-in immediately right from he opening bell, which resulted in ABC wave pullback up, with the low-risk wave B pullback buy entry opportunity between 1.30 to 2.30 pm eastern time.
Whether or not we would get a follow-through selling on Monday only time will tell, and will be based on price action in relation to NQ's key support/resistance equilibrium level at 2750 area.
Key Level For Monday is 2750.
-- Above 2750, look for NQ to try to close the gap from Friday's open.
-- Below 2750 look for NQ to try to resume its downtrend, with key support at Friday's swing low.
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