Without any new buyers coming to the stock market the market simply traded sideways in a very narrow range on Friday. However, ahead of the FOMC meeting this coming week look for them to engineer massive buy programs in order to keep the uptrend going.
Key support level for NQ on Monday will be 4800.
-- As long as NQ can stay above 4800, sellers are likely to be kept inactive, and the current uptrend on the daily chart can continue.
-- In the event that deflationary forces should overwhelm the Fed, a break below 4800 could attract some selling activities, next support is 4765.
According to new research from Morgan Stanley, so many developed countries are showing enough signs of slowing, that its cycle indicators — which take macro, credit and corporate factors into account — are leading analysts led by Chief Cross-Asset Strategist Andrew Sheets to conclude that a downturn could be coming sooner than some may think.
According to new research from Morgan Stanley, so many developed countries are showing enough signs of slowing, that its cycle indicators — which take macro, credit and corporate factors into account — are leading analysts led by Chief Cross-Asset Strategist Andrew Sheets to conclude that a downturn could be coming sooner than some may think.
