The Fed came to the rescue of the banking system on Monday, a massive bailout of the banks in order to avoid contagion. As a result, the market had a decent rally, but it is not over. As such we can expect the unexpected at anytime,
Key intraday inflection price level for NQ on Tuesday will be at 12,100. But it does not matter much until the market stabilises.
Key resistance is at 12,200, and if NQ can break above and stay above it we could see short-covering rally.
Key support is at 11,800, we could see massive selling if NQ trades below it as margin call starts to kick in.
