NQ opened with a huge gap-down on Tuesday, buyers then tried to rally the market up, but failed, then tanked down to lower support, the critical breakout support zone, 7740.
A break below 7740 would be very embarrassing for the Fed particularly ahead of their policy announcement on Wednesday. Massive buy program managed to cause a sharp rally back up to close the gap at key inflection price level, 7820.
7820 will be key inflection price level on Wednesday.
-- Bullish above, NQ could rally up to test the high and likely breaking above it.
-- Failure to trade back above7820 could attract another round of selling. If the Fed buy programs could not hold it above 7740 we could see heavy selling.
