The general equity market, including NQ simply traded sideways in a very narrow trading range on Friday. Until we get a decent multi-day pullback down move on the daily chart the market is going to continue to chop its way upward.
On the 5-minute timeframe, inflection price level for NQ on Monday will be 5155, with the first support at 5140 and first resistance at Fridays swing high 5168.
-- If NQ can stay above 5155 at and soon after the open, the upside target is a break above Friday swing high before profit-taking sets in..
-- Trading below 5155 at the open or soon after the open is an indication NQ is likely to go down to 5140 support. Should that support level get violated, lower supports are at 5125 then 5100.
The main stream media is now obsessed with President Trump temporary ban on people coming into the US from certain countries.
