The recent stock market selloff was reversed on Monday and continued on Tuesday ahead of major central bankers annual meeting in Jackson Hole, Wyoming, this the weekend.
Central banks buy programs is likely to continue throughout the week in order to create a positive image for central banks who has now lost most of their credibility.
With that as a backdrop, on the short term timeframe, key support for NQ on Wednesday will be 5860.
-- As long as any pullback down move does not clearly violates 5860 support the rally should continue on Wednesday.
-- Break back below 5860 however, implies a pause in the current up move, NQ is likely going into a consolidation. If so support is a 5820.
