On Friday, NQ consolidated sideways most of the day, only to rally near the close of the day as traders cover their short going into the end of the day. At the end of the day on Friday, NQ is back in the bullish mode, and as long as key support is not clearly violated, NQ should continue to go up.
Key price level to watch for on Monday is 3570.
-- As long as pullback can stay above 3570 NQ is in a bullish mode, but it has to clearly break above 3590 to trigger momentum algorithm buy programs, but resistance are 3600, 3610. ADR upside target is at 3617.75.
-- Bearish below 3570, next support is at 3540. A clear break below 3540 should trigger another rounds of momentum algorithm sell programs, first downside target is 3500. ADR downside target is at 3526.
