On the daily chart, NQ had a 2-day pullback down days on Wednesday and Thursday last week. On the 60-min chart, it was a clear ABC zig zag 1:1 retracement that was reversed after making a lower-low on Friday morning, as can be seen on the chart below.
%2B%2B05_09_2014.jpg)
After making a lower-low to end the 5-wave decline from Thursday high, NQ rallied all day on Friday in a 5-wave sequence (chart below)
%2B%2B05_09_2014.jpg)
Key inflection price level on Monday is 4080.
-- Bullish above, targeting a break above Wednesday/Thursday swing high.
-- Bearish below 4080, target a re-test of Friday swing low or a break below Friday swing low.
