Non-stop buying by the Fed in Wednesday's overnight trading that continued all day on Thursday managed to turned the market around from downtrend to uptrend on the daily chart.
Key level to watch for on Friday will be Thursday's swing low (3082) as stop-losses are now residing just below that level, so as long as that low is still intact look for the uptrend to continue on Friday.
Below 3082 would be very bearish, implies the fed buying binge has failed to attract any buying activities other than just pure short-covering.
