NQ traded sideways in a narrow range on Thursday but traded mostly below key 200-ma on the 5-minute chart most of the day on Thursday and then closed below it.
Unless they can push NQ to open up above the 200-ma on the 5-minute chart which was 6779 at Thursday close, we could see a sharp and large decline on Friday
Trading back above 6779 on Friday could cause a sharp rally particularly if the short-sellers decides to cover, but strong resistance now resides at 6950
The ECB's governing council confirmed what policymakers had been saying since the summer. They will stop expanding quantitative easing (QE) from the end of December — when bond purchases will fall from 15 billion euros a month to zero.
