The stock market should continue to be manipulated upwards by central planners at least into the end of the year. However, with the market in overbought territory and forces of deflation continuing to weight heavily on the stock market, we can expect some selling to come in after some sustained buying binge.
On the short term time frame, key price level for NQ on Wednesday will be 4880.
-- Trading above 4880 should induce some shorts to cover.
-- If NQ remains below 4880 it could attract some selling before buy programs kicked in again to push the market up. The first support below 4880 will be 4855, then the next support is at 4830.
