Whether or not the market will continue to rally into the end of the year only time will tell, but the Fed actual monthly QE amount is currently much more than 85 billion, it is in fact about 200 billion a month and is likely going to increase as we nears Janet Yellin's inauguration.
More money creation implies more rallies and faster upward momentum in the stock market and many other tangible assets as the dollar continues to collapse - not collapsing against the other currencies but against real assets - except precious metals as the Fed trade is Buy Stocks - Sell Precious metals. The trade is going to continue until the whole system collapses.
Here is how the stock market looks like during a currency collapse.... up up up up faster and faster
Here is how the stock market looks like during a currency collapse.... up up up up faster and faster
In the short-term, NQ key price level for Monday is 3505.
-- Above implies NQ is still going up to its next target, 3550 area.
-- Below 3505 implies consolidation before going back up again. Target down is 3490-3495.
*** -- Only a clear and sustained break below 3490 implies wave 5 up - on the 60-minute chart, which started from the November 17 swing low, has ended. If so, we look for ABC correction wave down that will retraced the entire move up from the November 17 low to the current high.
-- Above implies NQ is still going up to its next target, 3550 area.
-- Below 3505 implies consolidation before going back up again. Target down is 3490-3495.
*** -- Only a clear and sustained break below 3490 implies wave 5 up - on the 60-minute chart, which started from the November 17 swing low, has ended. If so, we look for ABC correction wave down that will retraced the entire move up from the November 17 low to the current high.
