As we went into Friday trading session NQ and all other major indices were in deep oversold zone on the daily chart thus an oversold bounces was to be expected.
As such, we witness a large short-covering rally for NQ and other major indices on Friday as traders took profit on their short position ahead of the weekend.
When the market opens on Monday we either see a continuation of the rally that started on Friday, or a retest of the recent lows.
Key price inflection zone will be at 14,500 on NQ, bullish above, with the next strong resistance coming in at 15,000 to 15,200 which could take one to two days to get reach it.
If NQ cannot breaks and or sustained a break above 14,500, sellers wil come back with a vengence, with first downside target at the recent lows, support zone is between 13,700-14,000
