NQ traded sideways above prior day high prior to the end of day spike high, but never traded above the spike high, an indication that beside the Fed buying algorithm there is really no other buyers up at these extremely overbought price level.
Key intraday support price level for NQ on Monday will be 5568.
-- As long as NQ can stay above 5568, sellers would be relatively inactive and intraday buyers should remain in buy mode. However, without the help of major buy programs, NQ either trade sideways again or rally in a slow and choppy pattern, new upside target is a new higher high before profit-taking selling sets in.
-- Bearish bias on a clear break below 5568.
WASHINGTON – Congress took the easy way out to keep the government open on the eve of Donald Trump’s 100th day in office, passing a weeklong stopgap spending bill Friday that amounted to more of a defeat for the president than a victory
