Another down-trending day for NQ on Friday, following a down day on Wednesday and Thursday. From the high on Tuesday July 13th 2021, NQ had 3-consecutive down days, with Friday close not too far above the 20-day moving average on the daily chart, we could see a quick drop down to the 20-dma on the daily chart, now at around 14,600, then rally for one or 2 day.
Also as likely, NQ could drop-down to break below the 20-dma on the daily chart, then pullback up to the 20-dma before dropping back down to its 50-dma, or just drop down very quickly to the next support, the 50-dma on the daily chart now at around 14,000 .price level.
If the 20-dma on the daily chart should cause a sharp bounce, it is an indication NQ is going back up to re-test the high from July 13th.
