On Thursday, another gap-up open was again immediately sold, the fourth day in a row, as insiders continues to upload their stocks before they let the market collapses while the public continues to buy. NQ continues to keep breaking below 5900 key support price level as they are clearly not able to hold NQ above 5900. The price action is clearly a distribution activities.
The Dow again made another record high but with only two stocks dragging the index up, Boeing and Apple, clearly deteriorating market breath, a prelude to a plunge.
On the short term and the longer term timeframe, 5900 remains key price level. They would have to intervene more aggressively is they are going to key NQ bovver 5900, and avoid an avalanche of sell orders that can get out of control.
