Instead of resuming its down trend following two consecutive large down days central banks were determined to rally the market up. Central planners are likely to continue buying the stock market into the end of the year. As such, any dip in the market is a buying opportunity.
Support for NQ on Thursday is 4800.
-- As long as NQ remains above 4800 selling should remains under control, as central banks can easily push the market higher and higher.
-- In a very unlikely event, deflationary selling overwhelmed central banks, and push NQ below 4800, the next support will be 4760, 4740, 4700
