After a choppy morning session NQ rallied in the afternoon and closed at the high of the day. With the European Central Bank expected to announce more QE on Thursday, the market should continue to rally as central banks continue to buy equities.
Key inflection price level for NQ on Wednesday will be 4700.
-- NQ uptrend continues as long as it stays above 4700.
-- Trading below 4700 implies NQ is going into a pullback down mode with key support at 4685, and as long as 4685 is not clearly violated on any decline look for NQ to rally back up after pullback ends.
