The proxy war between the US and Russia over Ukraine has intensified now that the US-installed puppet president has now been hijacked by the Ukrainian ultra nationalist who is both anti-Russia and anti American/West.
With Russia now having taken over control of Crimea and the other parts of Eastern Ukraine, and massing over 150,000 troops just at the border with Ukraine, the military conflict between the American and the Russian can only continue to intensify - and the US desperately now looking for ways to to save face, could easily trigger WW3 capable of bringing down the whole global financial system with it.
Overnight Gold has rallied strongly and the equity market has sold-off strongly. Unless the Fed buyers could turn the situation around overnight we could see a large gap-down open in the morning triggering a massive sell-off.
The ongoing conflict in Ukraine is going to be the main factor influencing the market on Monday and could cause either a very choppy trading session or a violent selloff in equiities. The Fed Buy programs should be in overdrive on Monday so it is also possible that we could see massive rally off the open.
But whatever it may be, key inflection price level for NQ on Monday is 3700 and for ES it will be 1848.
-- Bullish bias above 3700 in NQ and above 1848 in ES. if so the market should either trade sideways or rally up to another new high.
-- Bearish below 3700 for NQ and 1848 for ES, and it could easily trigger a massive sell-off.
