A large down day for NQ on Friday, with the open near the high of the day and the close near the low, a bearish close, the fourth pullback down day in a row, overbalancing all previous pullback time, a clear indications the uptrend may have ended.If so, we should see several more down days before it rally back up.
Key intraday line-in-the-sand for tomorrow will be at 9900.
-- Below 9900 we should see NQ making another lower low. Next lower support is 9800-9820. A sustained break below 9800 could cause a cascade of selling as trailing stop-losses gets run-over.
-- If NQ should trade back above 9900 we could see some rally back to 9970. Should NQ rally continues higher, the next higher resistance is at 10040.
