The stock market continued to rally on Thursday albeit, in the usual choppy fashion simply because the Fed is the only buyer in town. The choppy narrow range uptrend should continue for a while longer as there are much more QE and helicopter money coming from major central banks to buy up the stock market.
Eventually central banks money creation binge would cause a total loss of confidence in fiat money and then the entire paper money monetary system would simply collapses, but there is no way to know when that would happen simply because a loss of confidence is not an economic event. In the mean time, we want to continue to stay with the trend and they current uptrend is up.
Support for NQ going into Friday will be 4700.
-- Trading above support implies NQ is heading into another higher high day, with upside target above Thursday swing high.
-- Trading below 4700 is an indication NQ may be going into a pullback down day. However, Friday tends to be a choppy sideways type of day.
