A huge gap-up open on Tuesday failed to trigger any buying activities in the stock market as selling came back in the afternoon. NQ sold off hard, erasing most of the gap.
The battle between central banks buying programs and deflationary forces is going to continue. The Fed is desperately trying to hold the stock market up to avoid Trump victory in the upcoming presidential election.
But with the ratio of bullish asset to bearish assets currently at the highest level since the year 2000, just before a major stock market collapsed, looks for the Fed buy programs to get overwhelm by deflationary forces in not too distance future.
Key price level for NQ on Wednesday will be 4855, now acting as resistance, and support remains at 4800.
DANGER: The Last Time This Happened Was Right Before The Stock Market Collapsed!
