A gap-down open and trend down day for NQ on Friday, dropping down to support zone at 4445 area. End of day profit-taking activities managed to pushed NQ back up into the middle of the day range.

 

With the Fed meeting scheduled for Tuesday and Wednesday look for the choppy action to continue as market forces of deflation continues to push the market down against central banks buy programs.

 

Where NQ trades tomorrow would depends on where it trades in relation to 4445 support that held up on Friday.

-- Selling activities should be under control above 4445. Resistances are 4480 and 4500.

-- Inability to stay above 4445 has the potential to trigger another round of selling programs. The next strong support is not until 4400.