A sideways price action for NQ on Friday. With Friday being the second pullback day we could see NQ try to rally on Monday, the third day after a trend day is usually a continuation day.
The pattern on the daily chart is good for seting up a trend day on Monday, but on the shorter timeframe, the 60-minute chart, it is saying NQ should pull-back down further.
The key price level to watch for on Monday is 18,700.
Trading above 18,7010 is likely to trigger another round of buying programs. However, failure to do so implies more consolidation.
Key support isa 18,600. A sustained break below 18,600 could trigger heavy selling.with lower support levels at 18,400 and then 18,100
So far this evening, Sunday night, the market is indicating a neutral market and sideways pattern for Monday. The situation could easily change by the time the market opens on Monday.
