With the stock market ready to tank again on Wednesday, the Fed/PPT aggressive buying caused the stock market to rally again on Wednesday.
NQ rallied back up to its key 50-day moving average (7530) on the daily chart, and close just below it, making the 50-dma, 7530, as key price level for NQ on Thursday.
Trading above 7530 on Thursday could cause more short-covering rally, and the Fed /PPT may want to make sure that selling does not get out of control, so they may want to continue to push the stock market higher.
Trading below 7530 could attract selling, but the Fed/PPT is going to be active, thus, selling may be kept under control.
