Massive Fed buy programs on Thursday designed to panic the short-sellers forcing them to cover in order to induce short-covering rally ahead of the all important employment reports before the open on Friday.
It is certain the Fed will be ready with buy programs on Friday, and it is a well-known fact that the Fed manipulates all markets, be it the stock market, the bond market, or the gold market, etc, whether or not they can push the stock market higher on Friday only time will tell but the result will be known before the market open on Friday.
Regardless of what they will do, key price level to watch for on Friday will be 1770 for ES and 3500 for NQ
-- Above key price level is bullish, next resistance for ES is 1790-1790, for NQ next resistance is 3540.
-- Bearish below key price level, supports are 1750 and 1732 for ES and 3475 and 3420 for NQ.
