The stock market continue to melt-up, the speed may be accelerating now that Trump massive spending budget has been passed, as such money printing is also going to accelerate, which is positive for the stock market index.
The USD is going to continue to collapse. We saw what happened to the stock market when currency collapse, as people rush to buy real asset just to protect their wealth.
Intraday support for NQ on Monday is at 22,800, bullish above it, bearish below it,
The stock market continue to ment up as the US dollar continues to collapse. Going into the US 4th of July holidays we should continue to see the market continuing to melt-up as more shorts are forced to cover.
For NQ th upside target is between 23,800 to 24,000.We can see NQ spiking up to it before we see a large pullback ddown to re-test breakout level, 22,400
War between Israel and Iran is currently going throu a slowing down phase, giving the market some relief. NQ is now in breakout mode and is likely to accelerate to the upside unless the war heats up again
Key price level for NQ is now at 22,500, breakout mode above it, with first upside target at 24,000, and fast reversal if it breaks back below 22,000
Still choppy sideways price action on Monday. Until it gets out of the current trading range, choppy action is going to continue.
American airstrikes on Iran and Iran's decision to close the Strait of Homuz could cause a huge spikes in crude oil price, which has the potential to cause a massive stock market crash that no one is expecting.
Until the war situation is more clear, we should expect that anything is possible
Still not much happening in the equity market. NQ is still stuck inside a vary narrow trading range, 21,900-22,200. The sideways pattern may continue until it breaks.
Once a break occurs then we can see more interesting price moves.
Not much happened on Tuesday as NQ remain stuck inside a narrow trading range. The pattern should continue unless the war between Israel and Iran spin out of control.
Still not much happening in the stock market on Monday. The pattern should continue until we get a real breakout of the current trading range 21,500-22,100
Iran-Israel war is going to dominate.
Iran-Israel war intensifies, as such, anything is possible. Gold and crude oil will be bullish while equities will be bearish.
