The Fed buy programs triggered before the open and continued at the open, designed to trigger a short-covering rally, spike NQ up above key resistance price level 4437 but failed to trigger a short-covering rally. Instead, NQ sold off very quickly, and the selling continued all day into the close.
The Fed buyers will surely try to push the market up again on Thursday. Key price level for NQ remains at 4437.
-- NQ remains under selling pressure below 4437.
-- Bullish above 4437, next resistance is at 4475.
