A short-covering rally day for NQ on Friday, with the close right at the day high and just below important resistance price level which is a spike high following the FOMC policy decision in Septermber.
With a very manipulated market, and the Fed buyers fully aware of the fact that so many stop-losses will be residing just above that high 4440 area, they will surely try to push the market higher in order to trigger short-covering rally.
So a key price level for Monday will be 4440.
-- NQ trading above 4440 has the potential to trigger a short-covering trending-up day on Monday.
-- But a failure to break above 4440, or a failure to stay above 4440 after the break, could trigger a large down-day with support at 4390-4400, then 4320-4330
With global central banks rushing to get out of the US treasury bonds, combined with Fed's inability or unwillingness to raise interest rates, look for the US dollar to continue to trend lower.
