It is a well known fact that all markets are heavily manipulated by central banks, with central banks intervening on a regular basis to paint the tape to keep confidence alive.
For example, central banks knows that the general public are currently heavily betting on market collapse. With that in mind, the Fed is going to engineered massive buy programs on a daily basis in order to run the shorts over and discourage traders and investors from shorting the market.
This trick will work for a while but eventually market forces of deflation will overwhelm and over run central bankers best effort, and the bear market resumes. But for now buy programs is going to continue and run over stop-losses until most of the weak shorts has covered before the bear market resumes.
Key support for now will remained at 4075.
-- Above 4075 the bears are going to get over run by buy programs, the next potential resistance is at 4300. there may be pullbacks along the way to 4300 resistance.
-- If, for some unexpected reason, NQ break back down below 4075, the bears are going to again over run the buy programs.
Below is a chart showing the public heavily betting on a big stock market decline, a bullish signal.
