On Friday NQ rallied up to above prior day high before it reversed and trend down in the afternoon. It was the third day in a row rally that started from a bounce ofj critical support, the 50-dma on the daily chart.
The 3-day rally was so week that if it now starts breaking below 15,550 we could see many buyers that could be forced to exit, causing sharp selling. and with no much support below 11,550, the sell-off could get ugly.
Key intraday inflection price level for NQ on Monday will be at support for Monday will be at 11,750. With the FOMC meeting this coming week we could also see a sideways choppy market, until after Wednesday.
