On Friday, with the opening above key 5645 inflection price level, as expected NQ traded sideways. This market just do not have any buyers left, and topping distribution activities is going to continue.
The stock market is going to gyrate at more and more frequent rate as sharp selling is going to met by Fed buy programs, but they would eventually get overwhelmed, simply because the economy is likely already in recession, and debt deflation is going to accelerates.
Key price level remains at 5645 on Monday.
-- If NQ remains above 5645 we can expect more consolidation above 5645.
-- Breaking back below 5645 implies NQ is going to consolidates below5645.
--NQ needs a clear and sustained break below Thursday low to trigger another rounds of selling. If so, the next support is 5450-5500
Sears is Dying. Once a mighty giant retailer, Sears is now on life support and dying. Many investors are also going to suffer.
