A narrow-range sideways consolidation day for NQ on Monday ahead of the much anticipated FOMC meeting with the announcement scheduled for Thursday.
No one knows whether or not the Fed will raise rate on Thursday, perhaps not even the Fed. And also no one know what the reaction to the Fed decision is going to be. Perhaps as a result many traders and investors are sitting on the sideline.
The narrow-range sideways pattern may continue until the decision of the Fed is announced on Thursday. Key inflction price level for NQ remains at 4300.
