A huge rally in the equity market on Tuesday due to a combination of factors, the anticipated stimulus and the extreme oversold conditions.
This rally could last 2 to 3 days or 6 to 7 days before the downtrend resumes again. Tuesday is day one, thus we could see a resumption of selling on Wednesday, day 2.
Key level to watch for that will be 7200.
-- Above 7200 we could see more rally or sideways actions.
-- Below 7200 we should see heavy liquidation selling again.
Key intraday LIS for NQ on Wednesday will be 7450
-- Support is 7200
-- Resistance is 7550-7600
