NQ traded sideways in a very narrow range on Friday for the second day in a row. Buy programs has started on Sunday night and unless some unexpected bearish news hit the market before regular trading hours started on Monday morning look for NQ to open with a gap-up to be followed by more buy programs in order create a higher highs in the market in order to keep the current uptrend alive.
Key support for NQ going into Monday trading remains at 4795.
-- Selling should remain under control above with NQ trading above 4795, with upside target above last week swing high.
-- Sellers may get more active below 4795, with the next support at 4765 - 4770
Global money printing activities (QE) by central banks to purchase bonds, stocks, mortgages, ETFs, etc., continues to accelerate.
