Ben Bernanke has came out after-hours on Wednesday with some statement that signaled QE will not end any time soon. On that news the equity and the gold markets has rocketed upward after hours, with the US dollar in free-fall.
If the momentum follow through into the morning, and it should continue unless Ben Bernanke change his statement in the morning, look for the market to open with a big gap-up and trend up all day as the shorts covers.
** If we get a big gap-up open, key level to watch for after the open is the opening price level, bullish above the open, bearish below the open.
Key Level for NQ on Thursday will be 3000.
-- Above 3000 short-covering will continue with next key resistance at 3050.
-- Below 3000 implies larger pullback is in progress.
