Wednesday night buy programs managed to cause a gap-up opening for NQ on Thursday. However, even with major helicopter money program in progress in Japan which helped whack the Japanese yen down, there was no follow-up buying participation in the equity market. NQ simply traded sideways all day on Thursday.
The pattern of choppy narrow range pattern should continue as central banks continue to battle the forces of deflation, their tools getting less and less effective, an indication the beginning of the end for central banks is already in progress.
