On Friday after trending down in the morning, NQ reversed back up and trend up in the afternoon. At the end of the day NQ was pushing into overbought zone on the 5-minute chart.
On Monday, if NQ would open above Friday's swing high into overbought zone we could see a pullback down move before resuming the rally, as long as the move down does not violate key support, which for Monday will be around 12,330.
If the pullback decline should clearly break below 12,330 we could see a resumption of a downtrend. If so look for a ;large decline if it can break below Thursday low, and then stay below Thursday low.
NQ 60-minute Chart
