On Monday NQ opened with a gap-down then quickly dropped down to the key support at its 50-day moving average on the daily chart, triggering massive algorithm buy programs, rocketing NQ back up to resistance which on Monday was the 20-day moving average on the daily chart, which was at the 7575 level.
NQ eventually managed to break above the 20-day moving average resistance 7575 level and then closed above it, setting up a rally day for NQ on Tuesday if NQ can stay above 7575 price level. If so, the next resistance and NQ target at is at 7650.
However a break-back below 7575 could trigger another round of selling, if so, downside target is again at 50-dma (7480)
