With the global financial market wrongly pricing in another interest rate hike by the Fed in December, a NO interest rate hike in December which is a very high probability event, is going to collapse global financial market, and crash the stock market.
Ahead of the coming inevitable financial collapse, today European Central Bank Governing Council member Klaas Knot warned that Financial markets may be underpricing global risks, leaving them vulnerable to a major correction
NQ traded sideways in a vary narrow range on Monday as the current bull market continues to lose momentum.
On the short term 5-minute timeframe, key inflection price level for NQ on Tuesday will be 6070.
-- Trading back above 6070 is an indication that NQ is likely to make another higher high before pulling back down as insiders continue to download their long position ahead of the bear market.
-- Trading below 6070 implies another sideways consolidation patter type of day or a pullback down day on sustained break bellow Mondays low.
