NQ Daily Trend - UP - in pullback down mode
NQ 60-minute Trend = Down - Oversold
NQ 5-minute Trend = Down - Oversold
On Thursday The Fed buy programs managed to rally the stock market sharply in the morning but then, perhaps intentionally done to tank the market, President Trump announced new tariff on goods imported from China, which instantly caused the stock market to tank hard.
The selloff should continue and the starts of the bear market that should last several years might have just begun, and may already be irreversible.
Key support level for NQ going forward is 7800, very bearish below it.
-- NQ has already sold off overnight. Unless they could somehow push the stock market up to above 7800 by the opening bell, we could see a mini crash or a major crash, buyers beware
The next strong support is 7600, but on a strong sell-off, panic selling could easily crash price through any support.
