Following a large up day on Thursday NQ traded sideways in a very narrow range on Friday, a consolidation type of day.
Looking at NQ on the 60-minute chart, starting at June 28th swing low, NQ is now in wave 5 up, setting up a potential gap-up reversal type of day, although it could continue up in extended wave 5 rally simply because NQ is now in breakout mode on the daily chart.
Intraday inflection price for Monday will be at 7390.
-- Trading above it will be bullish
-- Breaking below it implies more selling with the next support at 7335, a critical support, a breakout price level on the daily chart.
