A sideways consolidation pattern on Friday following a down day on Thursday. Now that the Fed has announced their intention to start cutting short-term interest rate at the Jackson Hole meeting, the market could starts to trend again.
Technical pattern on the daily chart is showing a potential further pullback down if it can break below strong support zone at 19,675 with potential support at 19,277-19,377, with strong support at 19,100
However, if one pullback day is sufficient to relieve the overbought condition we should see NQ breaking to the upside above key resistance at 19,781. If so, it can rocket up to above Thursday swing high at 20,024. to the next resistance at 20,371
