On the daily chart, NQ is now in a parabolic-UP mode.
Thursday and Friday was a narrow-range consolidation days following a large range trending-up days on Tuesday and Wednesday.
The setup is for a large-range trending day on Monday, the direction will depend on where NQ would trade after the open, in relation to its key fair value balance price zone at 13,350.
Trading above 13,350 should cause NQ to trend up to above Thursday swing high, with the next upside target at 13,450.
13,450 is a decision price zone where NQ either reverse back down or rocket up and trend up all day with the next upside target at 13,550.
Opening and trading below 13,450 on Monday is an indication that NQ still need a larger pullback down move before rallying back up again.
On the 60-minute chart, there is a setup for possible large pullback down move on Monday before rallying back up again. However, with NQ now in parabolic move up on the daily chart, we could see the daily trend over-riding the 60-minute pattern.
