For Monday
Current NQ daily trend = UP
Current NQ 60-minute trend = UP
Current 5-minute trend could go either way, up or down.
On Friday NQ opened below first support 7850, then dropping down to 2nd support 7800 before rallying back up the rest of the day, closing right at line-in-the-sand (7850) for Monday.
On the 60-min chart, NQ looks set for another down-leg on Monday, with next down-leg target at 7770.
However, where NQ opens and trade soon after in relation to the 7850 LIS on Monday will determine if the next down-leg is in fact coming, or if 7850 should hold and that the next leg up is coming on Monday.
Thus on the 5-minute chart, intraday L-I-S for NQ on Monday will be 7850, bullish above, bearish below.
