The Fed and other major global central banks continue to pump massive liquidity via conventional QE and via short term repo agreement into the financial system in order to push the stock market up in order to avoid catastrophic financial collapse. The excuse used by the central banks is the Corona Virus outbreak
NQ opened wit a gap-up then reversed down immediately before spending the rest of the day trading sideways setting potential next leg down before rallying back up again.
Key inflection price level for NQ on Thursday morning will be 9350
-- If the open is below 9350 on Thursday morning we could see another the first swing will be a down-leg down to the next support, 9280 before going back up.
-- If the open is above 9350 we could see another higher high above Wednesday high before pulling back down to support.
