With the Fed finally admitting that they will not be able raise the Fed funds rate until at least March 2016 the short-sellers continues to continue to cover triggering another short-covering rally day in the equity market on Thursday.
We should continue to see the same price action on Friday as the shorts covers ahead of the weekend. All major US equity indices are now in bullish mode. Unless unexpected major events hit the market and cause substantial decline, look for the rally to continue on Friday..
Key support price level for NQ going into Friday is 4380 - 4390 price zone.
-- As long as any pullback decline can stay above 4380-4390 price zone look for NQ to make another higher high on Friday.
