As usual, on Friday NQ traded sideways inside a narrow reading range, with a morning decline followed by a slow rally starting at lunch.
With the Fed non-stop injecting ever increasing amount of liquidity into the financial system in order to prevent complete collapse, we can expect the melt-up in stocks to continue until it doesn't.
Key inflection price level for NQ on Monday will be at 9165, bullish above, bearish below.
-- Trading above 9165 implies more uptrend to higher high, with the next upside target at 9215 if we get a choppy non-trending day, or to 9250 if we get a trending NQ.
-- Trading below 9165 could trigger some short-term intraday sell algos. If so the first downside target is 9120, then if the market would get bearish, then the next lower target is 9090.
