Again, massive buy program came to the rescue of a potential sell-off on Monday as a large opening gap-down was immediate bought aggressively.
Deflationary selling is starting to gain an upper hand against the buyers. Trade war initiated by the trump administration against the whole world is starting to get more intense, and investors are starting to take action, unloading their grossly over-valued stock positions ahead of a potential global collapse resulting from trade war.
On the short term time frame, for NQ, key support on Tuesday will be 7230 and key resistance is 7280.
-- Continue sideways actions if NQ remains inside the range, 7230 - 7280.
-- A sustained breakout could trigger a strong move out of the range.
