As expected, the market traded sideways on Friday, with NQ dropping down to support soon after the open, then rallied to higher high then pulling back down into the close, a typical Friday pattern.
The closing price on Friday was just below key inflection price level for Monday, 9420.
-- If NQ should open above 9420, we could see NQ rallying up to another higher high above Friday high, then reverse back down to 9420, or it can break above Friday swing high and then stays above Friday high and trend up all day long into the close.
-- If the open is below 9420 we could see NQ pulling back to lower support levels before bouncing back up into the close. Lower supports are 9370 then 9330.
However, should there be some negative news overnight before the open, lower support level, a strong support level will be 9270-9280 zone. But it will takes a very negative new, such as Corona Virus outbreak news, to trigger selling to drop it down to 9270-9280 support.
New about Corona Virus outbreaks is still the wild card that can trigger heavy selling.
