NQ1!, Neutral-Bullish Bias, Primed for a Directional Move

The market remains in a clear uptrend but the buy side progress is stalling. The last week consolidation, in a narrow range, suggests a directional move is coming. The action is interrupted by a US Holiday on Monday. The price may continue to grind through the above consolidation area aiming to reach the all time high or make a move to retest the main trend line. The second scenario would be more lucrative for traders.

The next week is a short trading week but Friday brings the NFP report. A volatility spike may help either side to reach their target.

05/29/2021