The 50-day moving average on the daily chart continues to provide support for NQ on Monday as a gap-down opening down to the 50-dma was aggressively bought.
With Wednesday as the Fourth of July holiday we can expect more aggressive buy program by the Fed designed to makes thing looks and feels good. However, trade war rhetoric continues to intensifies deflationary forces.
On the short term timeframe, key inflection price level for NQ on Tuesday will be7065, now serving as support, with resistance at 7160.
