Wednesday, September 17, 2014

Guideline For Thursday

The market traded sideways ahead of the FOMC announcement on Wednesday, then, attempt by the short-sellers to take the market down after the relesed of the FOMC minutes was met with aggressive Fed buying which pushed NQ back up above morning high before short-sellers came back to sell it again.

NQ closed near where it opened created a doji candle on the daily chart, setting up either a rally or a sell-off on Thursday, depending on where it trades in relation to its key inflection price level, 4065

-- Bullish above 4065, resistance are 4085 and 4100
-- Bearish below, supports are 4045, 4030, 4010