Propelled by massive central banks buying binge on Sunday night designed to cause a huge gap-up open in order to trigger a panic short-covering by the short-sellers on Monday, the market did exactly just that with NQ opening up and rally as the shorts were squeezed.
NQ is now nearing another key resistance price level at 4500 that could cause some pullback or consolidation before rallying back up again -- as long as pullback down move does not violated key support level, which is the 4430-4440 area.
On the other hand, if NQ can push above 4500 and then able to stay above 4500 or gap-up open above 4500, then we could see another rally to test the recent swing high.
US dollar (UUP ETF below) breaking above contracting triangle's upper channel resistance, which could run-over some stop-loss and cause a quick spike upwards..
