The stock market sold off hard again on Friday as fear of contagion from Silicon Valley Bay (SVB) collapse scared investors.
The effect is not over, and we could continue to0 see volatility next week. Unless The Fed change their policy and cut interest rates and or reverse QT and restarts QE we could see more sell-offs next week.
Key event will be what the Fed will do, if any, to stability the banking liquidity problems.
On the intraday time frame key inflection price level for NQ on Monday would be at 12,030, bullish above it with resistances at 12,110 and then 12,200, acting as key resistance.
Bearish below 12,030, with supports at 11,800, a price level that will be broken of the Fed does not do anything to stabilise the market.
