Massive intervention by major central banks failed to keep the global stock market from falling as global stock lost over 2 trillion dollars in market cap on Friday following the result of Brexit referendum.
Global deflationary forces should continue to intensify this coming week as many investors may be force to meet their margin call or be liquidated creating selling vortex and likely to continue to overrun central banks buying programs.
NQ has traded down to just above 4200 price level in early globex trading Sunday evening. Unless they are able to push the market up by the open on Monday margin selling is likely to kick in.
The next support for NQ is 4200 then 4100 likely a stronger support.
