After a brief early morning pullback down to key support, the market rallied all day with a close at the day high. Should another pullback on Friday stays above key support level the current uptrend should continue.
The Fed is going to officially announce QE3 should and that news should be very bullish for the Stock Market, Precious Metals and Commodities.
For Friday my key line-in-the-sand is 2200.
- Above 2200 NQ should continue to go up to the next upside target 2250. If it gets really bullish, NQ can easily rocket up to 2175 area.
- Pullback that clearly breaks below 2200 implies a larger pullabck is on the card. If so i will look for the market to drop down to 2180 then 2160. If the market gets really bearish, it can easily drop down to 2120.
