A choppy up day for NQ on Wednesday, stalled just below 4800 key resistance level. 4800 will be key price level for Thursday.
Ability to break clear above 4800 has the potential to reverse some algo traders from sellers of bounces to buyers. However, deflation-related selling activities could come back at any time and without much warning and overwhelm central banks buying programs.
International reserves has decline by over $1 trillion dollars since peaking 2014. The world is sitting at the edge of a massive deflationary cliff. Even though Central Banks are desperately trying to keep the world’s financial assets from plunging down into the great depression below, signs suggest they are losing the battle, unless of course they are willing to create from nothing massive amount of currency and risk hyperinflationary currency collapse.
