The Fed continues to target the five FAANG stocks to keep the stock market up and to create an illusion that all is well. Although Nasdaq continues to make a new high on a daily basis due to the FAANG stock, the broader is not.
The economy is starting to rot from within. Retail sales are down, shopping malls are closing down at unprecedented rate. Auto sales are down drastically. Ford just announced that it is cutting 20,000 jobs worldwide.
Support for NQ on Wednesday will be at 5705.
-- As long as NQ remains above 5705 selling should remains very minimal, and buying should continue, the next target up is another higher high.
