The stock market was very bearish in the morning with all major indices ready to tank hard. The massive buying of Apple shares AAPL by themselves after the Chinese ruling against them help dragged the stock market up. The impact is just temporary as AAPL shares should continue to tank
Key inflection price level for NQ on Tuesday will again be 6660, with resistances at 6720, 6800, 6860.
-- Trading above 6660 is going to keep selling under control. If the shorts covers, NQ could rally all the way to 6860, a strong resistance,
-- Trading below 6660 is going to attract another round of selling. Should NQ breaks below Monday low, NQ could tank really hard as cascade of algos selling gets triggered.
China ban sales and imports of most of Apple iPhones. That is definitely bad for Apple.
