On Friday NQ sold off hard, started with a huge gap-down, then trend down all day with a close at the low of the day.
The low was just above strong support provided by prior swing high, and should hold, NQ should resume its rally on Monday.
However, a violation of 11,150-11,200 support is an indication selling pressure is intense and bearish for the market. With the election coming in early November, the Fed is likely to try to provide as much liquidity into the market to cause the market to rally into the election.
Key intraday line-in-the-sand for NQ on Monday will be at 11,300.
Bullish above with upside target at 11,450 the 200-ma on the 5-minute chart. Bearish below 112,300 with support at 11,150-11,200
