As the momentum of the current uptrend started to slow down NQ traded sideways with a slight bearish tone as NQ close the day in the red. Unless the Fed is going to engineered massive buy programs the market may continue to pullback down on Thursday.
Key inflection price level for NQ on Thursday will be 4785.
-- Selling pressure should be muted above 4780 except on a break above recent high due to profit-taking activities by buyers.
-- Selling pressure should continue to drag NQ down below 4785. Supports remains at 4765 the 4745.
Currency War continues. On Wednesday New Zealand Central Bank cut interest rate again. Official global money printing volume is now at about $200 billion a month. The end is now far away.
