-- NQ Daily Trend = still in consolidation mode
-- NQ 60-minute trend = up but approaching strong resistances
-- NQ 5-minute trend = up & in overbought condition
Global central banks continue to lower short term interest rate and buying bonds to push long term interest rates down to negative in many places, buying stocks to keep the stock market up, but this time the impact is likely to be very short-lived.
Prices of precious metals including gold and silver (the real money), are rocketing up, indicating the beginning of a synchronized global currency collapse, some currencies collapsing faster than others, example the Venezuelan Bolivar, Argentinian Peso, Australian Dollar, British Pound, just to name a few. Stock market collapse will come next and very soon, then followed by the bond market collapse.
A huge gap-up open in the stock market on Wednesday failed to trigger a big rally as funds continued to take advantage of the rally to download their long position.
On the short term intraday timeframe, key inflection price level for NQ on Thursday will be 7710.
-- Trading below 7710 indicates NQ is going into a pullback down m,ode, support is at 7650
-- Trading above 7710 in the morning indicates NQ is going to rally higher before pulling back down, first resistance is 7760 then 7800
