NQ traded sideways in a narrow range on Friday with the close above key intraday line-in-the-sand, the 200-period moving average on the 5-minute chart, which is at 7655 at Friday's closing, setting up a bullish Monday if NQ opens above 7655.
The daily algos are still long, and will stay long above the 20-dma on the daily chart, now at 7565, so there is no selling from the daily algos until NQ breaks above 7725 prior swing high where they would exit their long position to lock profit.
The intraday algos are also bullish above 7655. However, selling from double-top sellers at or below 7525 could cause NQ to pullback down, so there is a risk of heavy selling as NQ approaches 7725.
There will be some selling on a break below 7655 intraday LIS, support is at 7600.
