Another narrow range trading in the stock market on Thursday. Ahead of the Christmas holidays the Fed/PPR is going to support the stock market up to Christmas to make it appears everything is ok.
After Christmas, we could see the repo problem could get more severe and crash the stock market and the bond market all at the same time.
For Friday, basis December contract, key inflection price for NQ will be 8630.
-- Above 8630 NQ is going up.
-- Below 8630 we could see a decline down towards key intraday support at 8600.
