With the FOMC meeting scheduled for Tuesday and Wednesday, unless some unexpected market-moving news hit the market, NQ should stay inside a trading range ahead of the FOMC policy decision announcement on Wednesday afternoon.
Although the Fed is not expected to make any change in their policy, many traders would rather wait for the Fed announcement before making a longer-term decision, so with that as a guide, look for NQ to stay inside a trading range.
-- Supports are 4600 then 4590 and 4570.
-- Resistance is 4640.
The recent rally has been no more that just short-squeeze
