NQ tried to rally on Friday but eventually broke down below 4600 key support price level, then after re-testing it from below sold off hard all the way down to just below strong support 4555 before finding support at 4545 and then rallied into the close as the shorts took profit.
For Monday, NQ either traded sideways or trend back down to lower price level, and would depends on market conditions and where it trades in relation to its key inflection price level.
Key inflection price level for NQ on Monday is 4560.
-- If NQ can stay above 4560 price level, selling pressure should subside and that it could trade sideways or rally up to 4600 key resistance level. NQ would need to break-back above 4600 to turn bullish.
-- Any rally attempt that failed to clearly break above 4600 would attract another round of selling. However, NQ would need to clearly break below 4540 to trigger a liquidation sell-off, if so, downside target is at 4350 provided it can break below 4500 support.
