Massive buy programs was triggered right at the open to avoid a catastrophic crash. Whoever did it probably spent trillions of dollars to buy everything up.
With the Ukrainian war in progress the buy programs is likely to continue on Friday. The question is, how much are they willing to spend. Not knowing the answer in advance, we can us price level to determine our bull/bear bias.
Key price level to watch on Friday will be at 14,000 zone. Short-covering to continue above it which will help the buy programs, with the next resistance at 14,500 then 15,000 if 14,500 is broken.
Selling will resume below 14,000 which will go against the buy programs.The day low today was clearly wave 5 down on the daily chart. Whether or not that low needs to be retested we just have to wait.
