A breakout day for NQ on Friday as the short-sellers were forced to exit. As the long weekend holidays looms, and as most large traders would be on holiday and out of their office, in a low volume trading environment, we could see the shorts continue to exit their position, thus cause the stock market continuing to continue rally.
As long as NQ does not break key support level we could see continual rally all week next week into the long weekend.
For Monday, key support level will be at 11,850. As long as any pullbacks does not violate 11,850 the rally should continue. The next resistance is at ..12,280-12,300
