A strong rally day in the equity market, including the NQ, on Friday. Now that NQ has broken back above its key resistance, the 20-DMA on the daily chart (5960), and back above its lower trend channel support, as long as it stays above the 20-DMA on the daily chart, the rally should continue, with or without a larger pullback.
Key intraday inflection price level on the NQ on Monday will be 5980.
-- Above 5980, NQ is going to rally without a larger pullback down move.
-- Trading back below 5980 implies a larger pullback down move, with the next support at 5960.
-- If 5960 does not hold, then we can see intense selling, lower support is at 5920.
