A massive rally following Fed Chairman press conference on Wednesday. The big buyers is likely the Fed, and the buying is designed to squeeze the short-sellers to trigger a rally into the end of the year.
Following such a monster rally on Wednesday trapping a huge number of short positions, it may be enough to trigger a rally that last into the end of the year.
For NQ key resistance is at 13,000. Unless NQ drops back down below 11,400, the rally should continue with the first strong resistance at 13,000, and a good target to aim for.
On any pullback on Thursday, key support is at 11,870..
