NQ sold off hard in the morning but stayed above key support level 4670, then traded sideways the rest of the day, setting up a rally day for Tuesday. To do so, NQ has to stay above 4670 and break above 4700.
Falling crude oil price is negative for the stock market. With the price of crude oil breaking below key support of $40 per barrel on Monday, on its way down to $30, the stage is set for the stock market to collapse, but the timing of the collapse is more difficult to predict simply because the market is heavily manipulated by the central banks.
Again key price level for NQ on Tuesday is 4670. Remaining above 4670 implies either a sideways to bullish market.
