Large buy programs triggered right at the open rocketed NQ upward about 100 points to the 20-ma daily resistance where sellers came back in and overwhelmed the buyers, subsequently sending NQ back down to the open. Buyers came back in the afternoon, NQ then rallied into the close.
Key price level for NQ on Wednesday the 20-ma daily at 7037 at the close, now acting as key resistance.
-- A clear break above 7037 is going to trigger short-covering and buy programs that can quickly catapult NQ up to the next resistance, 7100-7125 strong resistance zone. Should NQ then break through the 7100-7125 resistance zone, it will quickly rocket up to the next higher resistance 7200 then 7350.
-- Should NQ failed to break above 7037 resistance, selling could overwhelm buying and tank the market down.
Final midterm election results is likely to determine the opening price on Wednesday
