-- NQ daily trend = up but in minor overbought zone
-- NQ 60-minute trend = Up
-- NQ 5-minute trend = down
From August 23rd swing low NQ has rallied up in 5-wave pattern with the September 12th swing high. A decline on Thursday and Friday last week is indicating a possible end of the 5-wave rally.
A break below 7840 is the first indication that the 5-wave rally has in fact ended. If so look for NQ to drop lower towards supports, first support is at 7750.
Key intraday price level for NQ on Monday will be 7890.
-- Bullish above, target a retest of the high
-- Bearish below, next support is 7840-7850 zone
