With most traders and investors and funds fully invested in the stock market, there was not much movement in the stock market on Friday even with a better than expect job numbers.
With no more new buyers, unless the Fed can continue to buy the stock market, look for profit-taking selling activities to commence soon. Profit-taking selloff would then run-over trailing stop-losses, triggering more selling.
On the short term 5-minut timeframe, key support for NQ on Monday will be 5145.
-- Above 5145 NQ should continue to rally in a choppy fashion with the next upside target is a break above Friday swing high.
-- Some selling would come in below 5145. If so, the next support is at 5120-5125, then 5095
