NQ daily trend = UP above 7700, will change to downtrend below 7700
NQ 60-minute trend = Down
NQ 5-minute trend = Down
Trump new tariff on imports from China spooked global market on Thursday, and may be the catalyst for the starts of the bear market that should last several years.
Key price level for NQ on Monday will be 7700.
-- Trading below 7700 is going to trigger daily-based algos sell programs which could quickly tank NQ down to its 200-dma on the daily chart now at 7250.
-- Overnight NQ is trading below 7700, and unless the Fed intervene aggressively overnight tonight we could see a stock market crash come Monday.
-- Trading back above 7700 could cause some short-covering rally. First resistance is 7800, then 7850.
