A usual, massive buy programs triggered during low volume globex trading on Sunday night caused a huge gap-up open on Monday. The buy programs continued all day with NQ closing at the high of the day.
The Fed buy programs which tends to be more active at night is likely going to continue until the US presidential election in November to ensure Hillary Clinton's victory.
With Monday's massive gap-up opening, key support for NQ has now climbed up to 4875.
-- As long as NQ can remains above 4875, selling should be kept at bay, and NQ either consolidate the huge gains on Monday or rally again particularly if they are going to trigger another huge rounds of buy programs.
-- Breaking back below 4875 could trigger some selling, with the next support at 4855. Without any major market moving news releases, 4855 should provide some good support on any selling activities.
