Stock market crash has now been avoided, at least for now. The Fed/PPT was able to cause the market to open with a gap-up above the 200-dma daily and above prior day high, triggering a breakout day.
Then buy programs continued all day, running over stop-losses, with massive buy programs triggered near the close rocketed NQ up about 100 points in a very short period of time. NQ closed at around prior swing low from July 30th which is around 7350, now still acting as resistance,
There may be some selling from prior low resistance sellers, first at around 7350 area and then at 7445 area but should the Fed triggers another round of buy programs, 7350 and 7445 should break, as the next strong resistance zone is not until NQ has rallied to its 20-dma and 50-dma daily at around 7459-7500 area.
Key support now is below Tuesday swing low, 7150, as trailing stop-losses now congregates below 7150.
-- Thus NQ could just continue to rally as long as it does not break back below 7150 on Wednesday.
