Non-stop buy programs failed to hold the market up on Tuesday as selling came back in with a vengeance at the end of the day. Although the low of the day remained above Monday's low it was a bearish day.
Buy programs are at it again overnight on Tuesday night that is likely to continue into the Wednesday's market open and likely results in a huge gap-up open.
As long as NQ remains above Monday low selling pressure is likely to be contained. NQ needs to break below Monday low to trigger another round of liquidation selling.
