A large down-day for NQ on Friday with the low of the day breaking below major support, the 50-day moving average and prior swing high established in September.
The momentum down is so strong that support may not hold. If so, we could see a real big crash because the next downside target is not until the 200-day moving average on the daily chart, now at 14,500.
Should the current support, Friday low, hold, we could see massive short-covering and algo buying.
Key inflection price level for NQ on Monday will be at 15,650 on the September 2021 contract, bullish above it, with the next resistance at 15,800 and bearish below it with the next support at Friday low, 15,550 area.
