With the Fed not going to start tapering anytime soon the shorts continued to cover on Thursday, pushing NQ up to key resistance at 15,350, now key line-in-the-sand.
However, even with NO taper by the Fed but with the 10-year treasury yield currently going higher due to persistent inflation, and if the yield continue to go higher, even without the Fed taper, the stock market is still vulnerable to a massive algo selling, the next key level will be at 1.50% on the 10-year treasury bond.
On the short term intraday basis for NQ on Friday, key inflection price level will be at 15,320, bullish above, bearish below it, lower supports is at 15,200
