NQ traded sideways in a narrow trading range on Friday as it remained stuck between 5720 resistance and 5640 support. Remaining inside the 5640-5720 trading range is an indication NQ is going to continue to trade sideways in a narrow trading range.
On Monday NQ should break out of the 5640 - 5720 trading range. If so we should see a strong move in the direction of the break.
On the daily chart NQ looks ready to tank below 5640 support. A break should cause a sharp decline to the lower support levels, 5480 then 5450.
However, if the Fed triggers large buy programs we could see NQ rally above 5720 to its next resistance at 5780.
