What is missing in conventional novels?
In conventional novels misses the thing we seek. The reader cannot find the essential thing and it ceases to be like the vision in our mind. Essentially conventional novels should go on with time and be ever present.

How does Virginia Woolf describe life?
Following Virginia Woolf life is very far from being like a momentary doubt, a spasm of rebellion. Life is characterized by a myriad of impressions, as an incessant shower of atoms from all sides. Life is not rational, but moreover a complex phenomenon. "Life is a luminous halo, a semi-transparent envelope surrounding us from the beginning of consciousness to the end".

What does Woolf mean by "the life of Monday or Tuesday"?
"The life on Monday or Tuesday" means according to Woolf's essay the regular day by day life.

What is the task of the novelist and how should fiction be written?
The novelist should be free and not controlled by some powerful tyrant. Fiction should not be written in the accepted style. It should be follow the writer's free will as consciousness.

Can you see any similarity between Woolf's ideas about fiction and Monet's Impressionist painting?
Woolf's fiction should not be as usual. In the same way Monet uses an unusual technique. Impressionism captures the external world and represent it with the feelings that impresses the painter. That's the same way as fiction should be, capture the outside world by adding internal impressions.