On Monday, a resumption of the decline in the price of crude oil dragged down the stock market, with NQ closing near its day low. A continual decline in the price of crude oil on Tuesday should continue to drag down the stock market.
A breakdown below double-bottom low in NQ, around 4080 area, is likely to trigger massive algorithm sell programs that could quickly crash NQ down to 4000 or lower, very quickly - a CRASH
Key support level for NQ on Tuesday will be 4155
-- Above 4155 NQ should either consolidate sideways or rally, but NQ needs to break above 4200 and a rally in the price of crude oil to trigger any kind of short-covering rally.
-- Breaking below 4155 if confirmed by a selloff in the price of crude oil is very bearish, next support is 4080, then 4000
