NQ continue to trade sideways on Friday, below the 50-day moving average on the daily chart (7540), as the Fed failed to trigger enough buying interest to push the market higher.
Many traders and investors may be waiting for the Fed's language at the end of their meeting on Wednesday to make their decision for the next move out of the current range.
It is expected that the Fed would drop the word "patience" at the next meeting this week to pave a way for their interest rate cut at the July or September meeting, as requested by President Trump.
Inflection level for NQ on Monday will be at 7490, with key breakout support at 7440 and breakout resistance at 7540.
NQ would need to breakout of the 7440-7540 trading range to generate a trending move out of the range.
