In the afternoon on Friday, NQ finally broke out above a trading range that it has been trading inside for the last 4 days prior. The next resistance is 3085-3100.
Key Level now for NQ is 3055, prior trading range resistance, now will provide support for any pullback/decline.
-- As long as pullback decline can stay above 3055,NQ should continue to rally up to 3085-3100 resistance zone.
-- A break-back below 3055, however, will attract selling that could tank the market down to the next prior trading range support at 3025. I am not expecting it to break below 3025 support unless we get some unexpected bearish market-moving news or unexpected bad earning reports that cause the market to get very bearish.
The US Treasury Bond/notes continues to collapse... and US dollar continues to collapse as well, possibly a prelude to Gold rally and US stock market sell-off, a potential repeat of the 1987 stock market crash
