As expected, major buy programs triggered as the market open to rescue the stock market from free-fall, continued all day on Tuesday, from the opening bell to the closing bell.
The buy programs is going to continue ahead of the official inclusion of the Chinese Yuan in the SDR basket, and the official launching of the SDR as a new World Reserve Currency replacing the US dollar.
Key resistance for NQ on Wednesday will be 4865.
-- Breaking and staying above 4865 is going to trigger some short-covering
-- Staying below 4865 is going to trigger some profit-taking selling activities. First support is now 4630.
Only Days Until World Money Changes Forever. Quoted from Jim Rickards article
"The International Monetary Fund (IMF) has established a plan for its special drawing rights (SDR) valuation basket to be revised at midnight on September 30. This IMF plan has laid the foundations for a new monetary standard based on world money.
While these SDR plans might seem complex, they’re actually not complicated. People will make it complicated or make it sound confusing but the Federal Reserve has a printing press, they can print dollars. The IMF also has a printing press and can print SDRs. It’s just world money that could be handed out and could be used to cause inflation."
