After two consecutive days of rally NQ traded sideways in a narrow consolidation pattern on Friday, setting up a big trending up day again on Monday, that is, as long as NQ can stay above its 200-period moving average on the 5-minute chart.
Thus key line-in-the-sand for NQ going into Monday trading will be the 5-minute 200-period moving average, at 6880 as of Friday's close.
-- If NQ can stay above 6880 on Monday we could see another large rally day, with normal upside target of 7000 before pulling back down or trading sideways.
-- However, if NQ would trade below 6880 on Monday we could see a round of selling. If so, the next potential support is at 6780. There is also support at 6830, prior swing high now acting as support.
NQ daily trend remains in bullish mode above 6600, with the next upside target of 7100
