After pulling down to support soon after the open on Friday NQ rallied all day into the close, a large breakout up day.
NQ closed at the day high on Friday. A close at the day high at the end of a large up-trending day implies the shorts were capitulating at the close, thus setting up a gap-up reversal day on Monday.
If so, with a gap-up opening, NQ would open with a gap-up, then immediately reversed back down, with the opening price as key price level after the open.
-- However, with a gap-up open, if NQ can remains stays above the opening price, it should rally in the morning, upside targets are anywhere between 6610 to 6650.
-- If, after opening up above prior day close, price drop down below the open, it will imply NQ is reversing and trending down in the morning, with first support at gap-close. Breaking below gap-close implies NQ is going down to lower support, which is at 6480.
