After a narrow range consolidation day on Thursday NQ rallied huge again on Friday.
An engineered rally design to keep the economy from going into recession ahead of the US midterm election might have happened too fast too soon, and in fact, may backfire on the republican come election day towards the end of 2018.
We can see the US dollar weakens, precious metals and crypto currencies rallying and other commodities rallying as well, always a tell tale sign the Fed is printing up dollars to push the stock market up.
With a very manipulated market, and much more liquidity injection coming into the stock market to keep the rally going, it is difficult to forecast when it will end.
On the short term intraday timeframe, however, inflection price level for NQ on Monday will be 6650.
-- As long as NQ remains above 6650 the rally may continue without a pullback down move.
-- Breaking back below 6650 implies a pullback down consolidation move. Downside supports are 6640 and 6615.
