With the market closed for easter last Friday, Thursday was the third pullback up-day since making the low on April 15, thus making Monday a key decision day in the market, it is either a down-day or another upday, depending on where it trades in relation to key inflection price zone.
For Monday morning, key inflection price level will be 3530 for NQ.
-- Above 3530 is bullish, an indication that NQ is going higher, with the next resistance at 3560 and then 3600 which will be a strong resistance.
-- Bearish below 3530, an indication NQ is going into a pullback mode in the morning, with key support at 3500. As long as 3500 support is not clearly violated, NQ has the potential to resume it uptrend, with 3530 as key level to break-back above inorder to attract momentum algo buy programs.
-- Clearly breaking below 3500 is an indication that Monday could be a down-day. Next support is 3480.
Military and financial conflict between the US and Russia over Ukraine, should continue to strongly influence the financial markets on Monday.
