Several markets opened with a gap-up on Thursday, including NQ, Gold, Silver, Crude Oil, just to name a few. Without any new buyers and sellers, NQ then traded sideways all day.
Central banks will continue to support the stock market with massive buy programs just to ensure the stock market remains high in order to deny Trump Presidency and elect bankers-friendly Hilary.
If the Fed can have their way, going forward into the November Presidential election, look for the stock market to continue to go up, look for Gold and Silver market to continue to go up, look for the Crude Oil market to continue to go up ad the Fed is going to do whatever it takes to keep the ever intensifying global deflationary forces of deflation at bay. Look for the US dollar to decline as the Fed is not likely to change it policy anytime before the US Presidential election.
On the short term time frame, key support for NQ on Friday will be 4830.
-- If NQ stays above 4830 on Friday, selling should mainly be profit-taking activities ahead of the weekend.
-- Should NQ break-back below 4830, selling activities is likely to come back.
