Ahead of the long Christmas holidays weekend, last Friday NQ simply traded sideways, the eight days in a row trading just above breakout price level 4925 area, key support for NQ going forward.
With profit-taking not until the new year, and without much incentive for sellers to sell until the new year, NQ either continue to trade sideways or resume its rally, so far it had eight consecutive days of consolidation.
With most traders still out of the office this weeks, the market can continue to trade sideways.
