NQ opened with a gap-up on Friday and then traded sideways in a very narrow trading range. With the US bond prices collapsing, gold rallying and the upcoming BRIICS countries meeting in September regarding their plan for ending the USD as a reserve currency, the Fed is sure to be extremely active manipulating all markets to make them look good and healthy, and we must always be on guard for unexpected market moves.
Key level to watch for in the morning would be 3120 in NQ.
-- Bullish above - with the first zone of resistance at 3150-3160
-- Pullback below 3120 with first support at 3000
