NQ continued to rally on Thursday. The candles on the daily charts looks impulsive to the upside for the last four days, looks set to break the recent swing high of 15,000, whether it will occurs on Friday or next weeks, only time will tell.
On the daily chart, the higher high would come with a bearish momentum divergence, and with the S&P 500 spotting a very bad breath, setting up a rally to higher high to be followed by a sharp reversal back down to starts the l;tong awaited bear market.
The Fed and all the other central banks is likely to continue to buy the stock market, but they may not be able to push the market much higher against a powerful forces of deflation.
Look for higher high divergence to start a new sharp deflationary bear market that will last until next year.
Key intraday line-in-the-sand for Friday will be at 14,900, and key resistance is at 15,000
