The financial market was closed on Monday for the Washington's birthday, and will resume on Tuesday.
Last Friday was a very bearish day for NQ even with a large rally mid afternoon from the options expiration buying activities. Selling resumed late day into the close.
Key price zone line-in-the-sand going into this week will be the low in January at 13,700..
A violation of the low could easily trigger a very heavy selling. Although there may be some sharp pullbacks, a sustained break below 13,700 could quickly tank NQ down hard. If so the next downside target is support zone between 12,200-12,400, previous swing high from September - November 2020 swing high.
If on the other hand, somehow wave 4 (see chart) has not ended, we could also see a sharp bounce off the 13,700 support
