With the current round of US-China trade negotiations coming to an end, regardless of what happened at the negotiation, President Trump will declare victory. In addition, the PPT buy programs is likely to be active starting Monday night and into Tuesday, pushing the market upward to make him look good..
With NQ daily chart still in bullish up trending mode, but nearing its key 200-day moving average, now at 7100, it would be in their interest to push NQ above 7100 in order to trigger short-covering rally. If so, the next resistance is not until 7300. A break above 7100 could catapult NQ up to 7300 in one or two days.
Key intraday inflection price level for NQ on Tuesday will be 7030
-- Above 7030 NQ is in bullish mode with key resistance at 7100. A break above 7100 could trigger short-covering rally. If so the next resistance is 7300
-- However, if NQ should trade back below 7030, we could see a fast drop to 6970 support. Should that break the next support is not until 6900
