NQ finally clearly broke out of the previous all time swing high of 15,690 and triggered a short-covering rally that lasted all day Friday into the close.
On Monday NQ either continue to rally if the shorts are forced to cover, or consolidate above the breakout level, 15,690 before rocketing back up again.
At the close, NQ was in overbought zone on the intra-day 5-minute chart, implying a possible pullback down move on Monday morning before it can rally again, as long as pullback down move does not get too large.
Key pullback down support is at 15,760. As long as this level is not clearly violated NQ will stay in a bullish bias zone. Breaking below implies larger pullback down to the 15,690-15,700 zone.
