Another choppy narrow-range up-day again on Monday. With the Fed determined to create a sense that everything is alright by pushing the market up and up, the pattern of choppy narrow-range up-day should continue for while, the technical upside target is about 4600.
At the current rally pace it could take a while to get there. On the daily chart, NQ has to clearly break below 4325 to invalidate the upside target
Key inflection price level for Tuesday will be 4460
-- As long as NQ can stay above 4460 look for another higher-high
-- Trading below 4460 is an indication NQ is going into a pullback mode.
Bull-Bear difference over 30 is a an early warnign that market correction is not too far away, reading above 40 implies market correction could come at any time. Current reading has just broken above 40.
