A large opening gap-down must have spooked the Fed as they immediately engineered one of the biggest buy programs, ran over short-sellers and ensure the market close near the high of the day.
With major stock indices clearly in a very strong up mode, look for the uptrend to continue, but they are now approaching overbought territory on the daily chart. Overbought conditions either slows down the rally or causes a big pullback down move, either way it would be wise to starts unloading some long positions.
On the 5 minute timeframe, key support for Monday will be 4505.
-- Trading above 4505 is an indication NQ is still in a fast move up.
-- Breaking below 4505 is an indication NQ is pulling back down to lower support level, which is 4490
