NQ traded sideways in an extremely narrow trading range on Friday simply because there are no more buyers of stocks, as everyone is already long the stock market. Unless the Fed trigger large buy programs on Monday the stock market is going to chop its way up.
The current bull market is losing its rally momentum, a typical topping pattern, and ready to commence its bear market decline very soon, the expect target time period is the end of November to early December.
Key support price level for NQ on Monday is 6090.
-- Looks for NQ to make another new higher high on Monday before insiders selling come in, and as long as NQ can stay above 6090. If so the next resistance is 6125.
-- Selling could come in with a sustained break below 6090.
