A narrow-range sideways action on Friday following a very large down-day on Thursday. This should be followed by a large down-day on Monday or a pullback-up day on Monday, depending on where it trades in relation to its key support zone..
Crimean had voted overwhelmingly in favour of leaving Ukraine and joining Russia, and this should bent Obama's nose out of shape, causing him to react in a very emotional way and it cannot be good.
If Obama carries out his threat of economic sanction against Russia it would have a very negative impact on the market - resulting in a credit contraction that can bankrupt many major banks both in the US and Europe.
Russia and China has started to dump US dollar bonds - and soon may be joint by other countries who do not wish to be holding the bag of worthless US$. How fast or how slow things unravel is anyone's guess.
Key level for Monday on NQ is 3620 support, for ES it will be 1832 support.
-- Above support may trigger some short-covering, NQ resistance is 3650, for ES is 1846-1849
-- Next support for NQ is 3600, for ES are 1830 and 1825. depending on the selling momentum, these supports could easily get broken.
