NQ daily trend = Down below 7750
NQ 60-minute trend = Up
NQ 5-minute trend = Up
On Tuesday, massive buy programs by the Fed/PPT triggered right at the open pushed NQ up about 200 points on the NQ before it stalled as the daily algos started to come in to sell.
On Wednesday, the Fed/PPT buy programs should continue. However it is going against several layers of strong resistances. As such, they have to come in with massive buy programs if they are going to have a chance to succeed.
Key resistance on NQ for Wednesday are 1). 7750 (50-dma daily), then 2). 7800 (20-dma daily) then 3). 7840-7850 prior swing low now resistance.
7750 will be intraday Line-In-the-Sand for NQ on Wednesday, bearish below it, first support is at 7650, then key support is at 7550, bullish above, see resistances above.
