As usual, NQ traded sideways on Friday with a short burst of rally soon after the open, then revesed and trend down all day into the close.
At the end of the day on Friday NQ was in deep oversold zone on the intraday 5-minute chart. As such, on Tuesday we could see early morning bounce.
If the early morning oversold bounce does not clearly break above, key resistance at 11,900, we would then see NQ dropping down to below Friday low. If so support levels are at 11,700-11740, then 11,475-11,550
If, on the other hand NQ morning rally managed to break about 11,900, and stay above 11,900 the next upside target is 12,020, with minor resistance at 11,950
