Friday was a sideways consolidation day with a fast rally in the morning and a slow decline in the afternoon with NQ closing right at inflection price level 3565 and ES inflection price level at 1850. Monday could be another sideways or up day.
However, trading below the inflection price level is an indication that the market is in a very bearish mode and a break below Thursday swing low should trigger another round of momentum algorithm sell programs that can tank the market hard.
-- For NQ, trading above 3564 is bullish, but resistance are at 3580, 3595, 3610
-- For ES, trading above 1850 is bullish, resistances are at 1856 and 1866
-- NQ bearish below 3565, supports are at 3540 and then 3520 and 3510.
-- ES bearish below 1850, supports are at 1840, 1832.
