The stock market rallied strongly after the ECB announced a negative interest rate policy on Thursday in order to force banks to lend. As goverments get more desperate, and in order to delay the inevitable collapse, the negative interest rate regime should also come to the US in not too distance future.
Along with the announcement, it was very likely the ECB and the Fed would have triggered most of the buy programs in the stock market in order to make the announcement looks good.
Market sentiment is now in extreme bullish zone and primed for a trend reversal on the daily, weekly and monthly chart, all it needs now is a catalyst. What that catalyst will be, and when, there is no way to know. The market often reverses when no one is expecting it.
For Friday, unless the Fed came in with more buy programs, look for the market to consolidate Thursday's large up move.
Key price level for NQ on Friday is 3775.
-- Above 3775 implies the uptrend is continuing, next upside target is 3800.
-- Below 3775 is an indication NQ is going into a pullback mode.
