The stock market sold off hard on Friday. With the stimulus package still under negotiation between the Democrats and the Republican, we could see the market selling hard come Monday morning.
Looking at the overnight trading NQ has broken below March 18th swing low. Trading below that on Monday implies wave 5 down on the daily chart is in progress.
If they are able to keep NQ above March 18th swing low on Monday morning and then cause a rally day , it is an indication wave 4 is still in progress.
Key price level for Monday is March 18th swing low, 6820.
-- Rally above it
-- Free-fall below it
