With the usual bullish bias going into the end of the year being supported by massive QE program by the ECB and massive QE and helicopter money programs in Japan designed to keep international capital flowing into the US dollar assets should be able to prevent the USD from collapse and keep the stock market elevated into the new end of the year.
However, even with the best efforts of central planners, anything is possible, and the market can do anything it wants at any time. Global deflationary forces could unexpectedly overwhelm central banks and collapses the market.
On a short term intraday time frame, key price level for NQ on Tuesday will be 4855 support and 4880 resistance.
-- If NQ remains above 4855 on Tuesday NQ should continue to rally with key resistance at 4880. Failure to break above 4880 should keep NQ trading in a choppy narrow range trading zone. A break above4880 should trigger some short covering activities.
-- If NQ breaks below 4855 some selling activities should tank NQ down to the next support level at 4820.
