A large down day for NQ on Friday. With the Fed Chairman determined to prevent the dollar collapse they may sacrifice the stock and the bond market to save the dollar.
Jerome Powell insist the Fed will starts to reduce their QE by 15 billion per month, from the current 120 billion per month to 105 billion a month. Still massive QE but smaller QE. Even then, the stock market and the crypto market may crash spectacularly.
Key price level to watch on Monday will be the 20-dma on the daily chart, now currently at 15,370. As long as NQ trades above 15,370 zone we could see the decline stabilise and may bounce.
A break below 20-dma this time, is likely to trigger massive liquidation, with the next lower target at 15,000-15,150
