A very large down day for Nasdaq on Friday, with NQ dropping down over 165 points from prior day close.
NQ low was a slight violation of its 20-dma strong support on the daily chart, but managed to close just above its 20-dma, setting up either a sharp selloff on Monday if NQ trades below its 20-dma on the daily chart, which was about 7300 as of Friday's close. If so the next crucial support is 7200.
Or, on Monday, if NQ can stay above 7300, we can expect either a sideways consolidation pattern or a rally on Monday.
Twitter was a drag on the market on Friday, with its stock price dropping over 20%.afdter earnings.
