NQ sold off hard on Friday. Although NQ is still in an uptrend on the daily chart, it looks like wave 5 rally might have ended on Thursday last week.
The first confirmation that wave 5 on the daily chart has ended is a break below the 20-dma on the daily chart, which at Friday closing price was at 7240, and it may serve as key support for any sell-off on Monday. 7240 is also prior swing high now acting as support, thus, a break would implies the selling pressure is intense.
Key NQ inflection price level for Monday is 7390, with key support on Monday 7240 and key resistance at 7440, a 200 point range.
-- Bearish below 7390, with key support at 7240.
-- Bullish above 7390 with key resistance at 7440
