Another trending up day for NQ on Tuesday. It is rare to see two trending up days in a row. However, on the daily chart, we can clearly see NQ in parabolic type of up move, as such the patterns is displaying abnormal characteristics.
With the US dollar continuing to tank, money rush into stock, pushing the stock prices upward. It is very difficult to forecast when the parabolic move will end as it is driven by emotion. But when it does ends, the reversal is fast and swift.
Key inflection price level for NQ on Wednesday will be at 12,260
-- Bullish above, next upside target is a higher high above Tuesday swing high.
-- Bearish below it, with downside target at 12,160
NQ daily chart showing it is now in parabolic move up.
