What is the Market going to do on Thurs?

The charts say that tomorrow is going to be an up day. Lets look at the QQQ charts:

The candle is a nice little gap up showing strength, the candle is white, with a bottom tail, also indicating up.
If you look at the candle before it, it was a red candle with no tails...indicating a drop day. So what happened, why did we have an up day instead? Because in the early morning China announced that they were going to flood the market with billions in their currency, much like the US did with ours in 2008. This 'shoring up' was great news and news trumps technicals so the markets were up today.
So far, no big news, so the technicals rule. Also, Asia is currently nicely up as well as the futures.
So for Thursday: Up day.
At least in the morning. Since we are on thin ice right now with everyone goosed from 2 days ago, there could be a sudden turn around in the late morning or early afternoon. So if you are betting that things will go up, stay attentive in the morning and watch that gap fade.

Tradinginsider