A choppy narrow range up-day on Monday with the usual small profit-taking pullback at the end of the day. Without any major unexpected negative news on Monday the Fed buy programs should continue to push the market higher, so any pullback that does not clearly violate key support zone should provide us opportunity to go long.
At the end of the day on Friday NQ was in overbought condition on the 5-minute chart, and may need to consolidate or pullback down in the morning on Monday before rallying back up again.
Key support for Monday in NQ is around 3810 area. A clear break below 3810 is an indication nQ may be going into a larger pullback, next support is 3785.
