On Thursday, the threat of Russia's Asset Freeze sent the European and US market reeling, with the Dow dropping down just over 260 point.
NQ opened just below key support 4075 and continued tanking without any pullback, caught many traders off guard. The selloff continued without pausing as it breaks support after support, tanking NQ all the way down to just below prior swing low established on September 16, down to 4000 whole number support before consolidating Whether or not 4000 support holds and can sent NQ back up again, only time will tell.
Key price level for NQ on Friday is 4000.
-- Trading below 4000 could trigger another round of momentum algo, next support is prior swing high on the daily chart, a strong support zone around 3080-3090, if this support zone does not hold NQ could go into a crash mode with the next support is not until 3910.
-- Trading above 4000 implies NQ is either going into a consolidation mode of rally back up. NQ needs to clearly break above 4020 to trigger a short-covering rally. If so resistances are 4035 then 4060
