NQ traded sideways on Friday as most traders were out of their office for the end of the year holiday.
Monday is December 31 2018, the last trading day for the year. With most traders on holidays, it is likely going to be a very light trading volume day.
As such, there could be a lot of shenanigans going on. On one side is the PPT who would love to see a thousand point rally in the Dow going into the end of the year just to make President Trump looks good.
On the other side, there could be a lot of deflationary selling that could easily overwhelm the PPT buying activities and tank the stock market.
If, however, none of the above happens, the stock market could just trade sideways in a narrow trading range simply because there are not too many traders still trading on new yers eve.
Key NQ support on Monday will be 6230.
-- Trading below 6230 could trigger some selling with the next lower support at 6160-6180. NQ would need to clearly break below 6160 to trigger liquidation margin selling.
-- If NQ remain above 6230 on any decline it could then rally back up to perhaps another higher high as selling would be under control..
