NQ traded sideways in a very narrow range on Friday, a likely short term topping pattern as we can see from the 60-minute chart.
On the daily chart, NQ is not that far away from overbought price zone. So it is possible NQ could drop down below 20-ma on the 60-minute chart for one to three days, then to be followed by a rally again to higher high into the overbought zone on the daily chart.
Key support for NQ on Monday will be at around 12,480. A clear and sustained break below 12,480 is an indication NQ is going to drop down to support at 12,350, likely is a very fast impulsive decline.
NQ would need a big market moving news to cause a trending up day on Monday, thus above 12,480 we may just get another choppy narrow range type of day on Monday
