As expected, and without any new buyers, NQ simply traded sideways in a choppy narrow range price action on Wednesday as central banks continues to battle the forces of deflation with more money printing.
As long as the major market indices remains above its breakout price level, around 4700 for NQ, around 2180 for S&P 500 and around 17,900 for the Dow futures, any selling should remains under control, and central banks should be able to print enough money to control the forces of deflation, and control any selling activities.
Key short term support level for NQ on Thursday will be 4820.
-- As long as NQ remains above 4820 on Thursday, selling should be under control, NQ may trend up or traded sideways again.
-- Should NQ clearly break below4820 some selling may come in, next support is at 4800.
