Another large up day in the stock market on Wednesday, and the rally should continue a bit longer.
To counter the negative impact of potential war with North Korea, the devastation inflicted by hurricane Harvey, the debt ceiling debate, the Treasury running out of money by the end of September that can result in government shutdown, the Fed has engineered massive rally to keep selling at bay.
The impact of the current market intervention by major central banks is only temporary as selling is going to continue and get more intense as we get into September and October timeframe.
Now that NQ has broken above its 20-dma resistance on the daily chart, 5870, and as long as NQ remains above 5870 we can expected another up-trending day on Thursday if central banks buy programs continues, or trade sideways if there is a pause.
It would take a very negative unexpected news for NQ to break back below 5870.
