A relentless buy programs pushed the stock market up, especially NQ, on Tuesday. But most of the gains on Tuesday has now been erased in after hours trading on Tuesday evening after the resignation of Trump top economic advisor was announced.
With both the Dow and the S&P 500 still trading below their critical 50-DMA on the daily chart, things can get ugly really quickly on Wednesday.
Although the Fed would be ready with massive buy programs when the stock market opens for trading on Wednesday, the avalanche of selling could easily overwhelm their buy programs.
Key support for NQ on Wednesday remains at 6700.
