The stock market has rebounded sharply from the crash low, with NQ Monday's low at the 50-day moving average on the weekly chart. & it was a measured move (1:1 drive down) from July swing high to Monday swing low
If most of the investors caught on the wrong side of the Yen Carry Trade has been forced out of their position we could see either a multi-day or multi-week bounce before crashing back down.
On the 5-minute intraday timeframe, key inflection price level for NQ on Tuesday will be at 18,050, bullish above it, bearish below it. If NQ can break above key intraday resistance at 18,400 we should see NQ rallying higher.
VIX spiked up to about 65 point level on Monday but closed down to about 35, indicating a calmer market on Tuesday, that is, as long as the war between Israel and Iran does not heat up.
