The stock market simply traded sideways in a narrow range on Wednesday ahead of major central banks meeting in Jackson Hole this weekend.
Central banks managed to hold the stock market up on Thursday and should be able to keep it up on Friday as well, as it is very difficult to imagine central banks would let the market sell-off ahead of their annual meeting in Jackson Hole this weekend.
Selling pressure from President Trump trade war rhetoric is going to weight heavily on the stock market that is ready to tank at anytime, and Trump's destructive isolationist policy may be the catalyst that could trigger an avalanche of selling, the timing is impossible to predict.
On the short term timeframe, key inflection price level for NQ on Thursday will be 5840
-- Support is 5800
-- Resistance is 5880
