NQ traded sideways in a very narrow range on Friday, trading below key resistance for the third day in a row, unable to break above it. Unless it can clearly break above 6700 and trigger short-covering, NQ may need to drop back down.
As long as the decline does not get out of control, it may then rally back up to try to break above key resistance on the daily chart, the 50-day moving average for NQ.
Key intraday inflection price level for NQ on Monday will be 6600.
-- Trading below 6600 is bearish, potential supports are 6500 then 6450.
-- Trading above 6600 is bullish, next resistance is 6700.
