After trending down sharply starting at midday on Friday NQ traded sideways (bear flag pattern) into the close. setting up a sharp selling on Monday, as long as NQ does not breakout to the upside above 13,650..
Key price level for NQ on Monday will be at 13,650. NQ would need to trade above 13,650 to change the trend from down to up, with key support at 13,540.
If NQ breaks and stays below 13,540 we could see NQ dropping down sharply, with the next support at 13,400. It is a strong support, but with so many trailing stop-losses just below 13,450, there is a high probability that 13,400 support would not hold. A bearish sign would be a spike in the VIX volatility index.
