After trading sideways Friday morning massive selling orders hit the market after lunch causing the market to collapse into the afternoon, closing not far from the low of the day.
As the Fed get more desperate in trying to avoid stock market collapse due to increasing deflationary pressure, look for overnight buying binge during thin market trading volume to continue, with the opening gap getting sold.
Until the Fed announces massive QE4, look for selling pressure to continue, unless the Fed is successful in pushing the market up above key technical level. For now, all the major stock indices, the Dow, the S&P 500 and the Nasdaq are in Sell Mode.
Key price level for NQ on Monday will be 4200 support.
-- NQ is in free-fall below 4200, next support is 4100.
-- Above 4200, selling pressure should subside, with NQ trading sideways or rally back up to 4300 resistance.
Velocity Of Money is still tanking
