Central Banks buying binge (by the ECB, the Fed and the bank of England) ahead of more quantitative easing, triggered short-covering rally that helped pushed stock markets up.
Whether Friday's massive rally could continue this coming week, only time will tell, as the US market will be close on Wednesday for the July 4th holiday, and many traders will be out of their office. If so, we may see some false breakout.
For Monday, Key level for NQ is 2600.
Whether Friday's massive rally could continue this coming week, only time will tell, as the US market will be close on Wednesday for the July 4th holiday, and many traders will be out of their office. If so, we may see some false breakout.
For Monday, Key level for NQ is 2600.
- Bullish above 2600, could lead to breakout above key resistance 2628. A sustained break above 2628 could trigger fast short-covering rally.
- Below 2600 implies NQ is going into consolidation, declining 2570support zone.
European Debt Crisis
