NQ Guideline For Thursday

NQ remained below key resistance all day on Wednesday and thus traded sideways all day on Wednesday, closing right at key resistance, making Thursday a potential rally day or a sell-off day.

 

With Wednesday as the third consolidation day following a big up-trending day last week Friday many algorithm is set to trigger buy programs on Thursday if NQ can trade back above 5880 key resistance price level, and failure to break back above 5880 could cause some heavy selling.

 

Key price level for NQ on Thursday will be 5880.

 

According to Business Insider, global central banks are on pace to purchase an astounding 3.6 trillion dollars in stocks and bonds in 2017. Overall, the five largest global central banks now collectively have 14.6 trillion dollars in assets on their balance sheets.