Last Friday was a typical Friday trading pattern, a sideways consolidation pattern, trading between support and resistance, with morning rally that got sold in the afternoon.
On Monday we could see either a rally, if it can break above resistance at Friday swing high and trigger short-covering, or sell-off down if NQ should trade below support at Friday swing low.
20-day moving average resistance on any rally is around 7700. If NQ should break below Friday low, and stay below Friday low we could see large 200-300 points down day.
Ahead of the long memorial day weekend holiday the PPT is going to be very active in order to make President Trump looks good, so we could see bullish week this week.
