With the crude oil price set to tank hard on Tuesday which would have taken the equity market down with it, panic Fed may have gone crazy with buy programs, buying the crude oil market and the equity market in its attempt to prevent a total market crash ahead of next week FOMC meeting.
Their efforts might have temporarily stopped the crash in its track, but longer-term, unless the crude oil market can stabilize and rally back up into the $40 - $50 range, the wall street banks are going to collapse, taking the economy and the stock market with it.
For Wednesday, unless NQ can break back below 4670 along with crashing crude oil price, look for NQ to trade sideways or rally if NQ can break and stay above 4700.
