On Friday NQ bounced off key support soon after the open and then trend all day with a close near the high of the day.
Important target for the current rally from the low on January 06 would be at 11,750, a 1:1 target with could cause a problem for the current rally, now that it is starting to get into overbought condition on the 60-minute and the daily chart timeframe.
From the January 06 low, Monday will alse represent day 7 of the current rally. Day 7 and day 8 (Tuesday) could represent a top that could be followed by 1 to 3 days of pullback (down days).
On the 5-minute intraday chart, key inflection price level for NQ on Monday will be at 11,550 bullish above, bearish below it.
