Relentless Fed buying and buying from short-covering produced another up-trending day on Friday. The market is clearly going into a blow-off top, and once all the panic buying has exhausted itself, it would go into a very sharp reversal. We may have up to one more week of panic buying before reversing sharply.
Key Level in the morning for NQ is 3130.
-- More short-covering above 3130 with the next target up is 3150.
-- below 3130 implies it is in a pullback mode, downside target 3110
