Another choppy narrow range up-trending day again on Tuesday. Without any larger pullback the uptrend is going to be slow, narrow-range and choppy, unless of course the Fed can come in with large buy programs. With most short-sellers on the sideline there are not many shorts to cover that could help push the market higher in a hurry.
Key support for NQ on Wednesday is 4170.
-- Uptrend should continue if NQ can stay above 4170.
-- Clearly breaking below 4170 is an indication NQ is going into a larger pullback-down mode. If so supports are 4160, 4135.
