Without any buyers other than the Fed, and without any short-covering activities, NQ simply traded sideways in a narrow range on Friday.
The choppy sideways pattern should continue unless they are willing to commit a lot of liquidity to keep the stock market up because the speed of a collapse in bond prices is very deflationary and weigh heavily on the stock market.
Key price level for NQ going into Monday will be 4800 support.
-- As long as NQ can stay above 4800 on Monday, NQ either continue to trade sideways or rally.
-- Breaking back below 4800 is going to attract selling, Lower supports are 4760 and 4740.
