The Fed buy programs was immediately triggered as the market opened for trading on Tuesday. The buy program lasted about one hour. Strong selling pressure throughout the day kept the buy programs in check.
However, buy programs continued after regular market is closed with NQ up over sixty points by midnight Monday night. If they can hold the market from selling overnight we can see continual rally on Tuesday at least in the morning.
Key inflection price level on Tuesday will be at 9125
-- Opening above 9125 will keep the intraday algos on the buy mode, if so NQ is likely to rally with the next upside target is a break above Monday swing high
-- If the open is below 9125 we could see some selling, supports are 9080, 9040, then 9010
