The stock market rally stalled on Thursday likely due to deflationary selling pressure that overwhelmed buy programs. However, as long as the major indices remains above support selling should remains under control.
Key support price level for Friday will be at 4900 on Friday.
-- As long as NQ stays above 4900 selling should remains under control.
-- A sustained break below 4900 could drop NQ down to lower supports, 4865, then 4840 and 4800.
War on cash continues: Australia seeks to remove $100 note from circulation. Australia looks set to follow in the footsteps of Venezuela and India by abolishing the country’s highest-denomination banknote in a bid to crack down on the “black economy”.
