Nasdaq was down -2% in the pre-market hours, however, the index recovered its entire overnight drop and finished the session up +0.15%. The Nasdaq futures found support at the critical 13000 level again, which might suggest a possible Double Bottom pattern.
If Nasdaq has indeed formed a Double Bottom pattern (which will be confirmed if NQ doesn’t drop below the Double Bottom support at 13000 during the next several sessions), then the price should move above the 13500 level in the next week or two (as shown below).
Should this scenario unfold, I would expect the index to continue chopping around between the 13000 and 14000 levels. The index might even try to break out above the 14000 resistance forming a number of local higher highs. Eventually, this type of price action could lead to a possible bearish Rising Wedge pattern (see chart below).