Friday was a narrow range day as NQ traded sideways all day. The up-trending momentum on the daily chart is really starting to stall, selling pressure is just starting to overwhelm the buying pressure. The stock market may be ready to top, then to be followed by a down-trending market.
Current support for NQ remains at 5400. As long as 5400 support is not violated NQ should continue to either trade sideways above 5400 or continue to rally.
A sustained break below 5400 is going to trigger some selling. If so the next support is at 5380 then 5365.
