Another choppy sideways trading pattern for NQ on Monday. A gap-down opening was aggressive bought but without new buyers, once the Fed buy programs fades away the market seems to drift sideways.
Without large pullback decline to trap the shorts, the current uptrend is likely to stay choppy and slow.
Inflection price level for NQ on Tuesday is 4545.
-- Bullish above 4545, an indication NQ is going to rally to higher high right away.
-- Trading below 4545 may trigger some sell programs, but large buy programs may be just waiting to be triggered at support.
Greenspan Admits The Fed's Plan Was Always To Push Stocks Higher
Former Federal Reserve Chairman Alan Greenspan admitted in an interview with Sara Eisen that quantitative easing did what it was supposed to do, which was to inflate stock prices and drive multiple expansion.
