Thursday, February 9, 2017

NQ Guideline For Friday

Another choppy narrow range up-trending rally for NQ on Thursday, with the close at key short-term intraday inflection price level, 5212.

Where NQ trades in the morning in relation to 5212 on Friday will determine whether or not NQ will first pullback down to support, 5195, before rallying up to another higher high or whether or not NQ will make a new higher high first then pullback down.

Again, key inflection price level will be 5212.

Foreign central banks continues to dump US treasuries in order to either defend their currencies from collapsing, or in order to finance their government's deficits.