NQ sold off right from the opening bell on Friday, breaking below 4100 key support, triggering massive algorithm selling programs, tanking NQ all the way down to 4000, a potential support for a bounce.
But failure to do so is going to trigger another round of liquidation selling with the first downside target is a break below January swing low. Strong support for NQ lies in the 3700 area.
Key support for NQ on Monday is 4000.
-- Selling pressure will be subdued above 4000, with first resistance at 4100.
-- NQ should sell of hard below 4000, next potential support is 3900.
