On Tuesday the Fed were all out talking the market up and then intervene aggressively pushing the market up all day into the close.
Normally, this type of day is usually followed by another rally in the morning and then reverse later in the afternoon. However, this is not a normal market as it is not a free market. As such anything is possible.
Key inflection price level on Wednesday is 7140.
-- Trading above 7140 is an indication NQ rally will continue, with the next resistance at 7180 and 7215. Then if they are able to push through 7215, other higher resistances are 7270 and 7320 (prior swing low now resistances).
-- If NQ should trade below 7140 on Wednesday we could see a choppy pullback decline down towards its 200-ma (now support) on the 5-minute chart.
