Strong resistance resides at around 6770 for NQ, the location of its 50-day moving average where selling algorithm resides.
it should continue to be strong resistance on Monday. If buy programs can push NQ above 6770 and then able to stay above 6770, selling algorithms will turn into buying algorithm which should catapult NQ higher. However, failure to break-back above 6770 is going to be bearish.
Key support resides at around 6620. Should NQ clearly break below 6620 it could trigger massive selling algorithm, tanking NQ back down to its 200-day moving average. Should it retested the 200-dma level again, it is likely to break.
