As expected, the PPT buy programs was triggered immediately right at the open to cause a rally above the 50-day moving average.
They are going to continue their buy programs on Friday. As such, look for NQ to rally up to the 20-day moving average before coming back down due to profit-taking and selling coming in at the at the 20-dma, 7700 on the daily chart.
Key short term intraday inflection price level for NQ on Friday will be 7620.
-- Trading above 7620 is an indication the PPT is winning, if so the next upside target is 7700.
-- Trading below 7620 is an indication selling is heavy, and it needs to go down to support at 7530 before going back up again.
