A choppy sideways consolidation day for NQ on Friday as short-sellers took profit going into the weekend. Monday will be the beginning of the new week, thus what traders will do will depends on where NQ trades in relation to key technical levels.
Key support for NQ on Monday will be 4305, and key resistance will be 4340.
-- Although I don't expect Monday to be a choppy sideways consolidation day, however, if NQ trades between 4305 and 4340 it sould remains choppy.
-- Successfully breaking out of the 4305-4340 range implies a trending move in the direction of the break.
-- A false breakout of the 4305 - 4340 range is likely to result in a fast reversal.
