NQ traded sideways again on Monday, oscillating above and below key 4800 inflection price level, and spending more time below 4800. If the Fed is unable told it above 4800, seller may get more aggressive.
Key inflection price level for Tuesday will remains at 4800.
-- Trading above 4800 should continue to keep selling under control, but NQ has to clearly break back above 4840 to trigger some additional buying.
-- Staying below 4800 will make NQ vulnerable to heavy selling. Many stop losses are now congregating just below last week Thursday low, below 4755. A clear and sustained break could trigger an avalanche of selling.
Chart Of The Day: Top Central Bank Assets Soar 10% to $21.4 Trillion
Chart Of The Day: Top Central Bank Assets Soar 10% to $21.4 Trillion
