Just like Tuesday we had another choppy sideways action for NQ on Wednesday. The pattern should continue until the FOMC decision announcement at their June meeting which will be held next week.
The market has priced in a NO rate hike next week, so unless the Fed announces new QE program, the market should start to sell off that should last until the end of the year for the Santa Clause rally.
Gold and silver has broken out with a big gap-up open on Wednesday, perhaps an indication some insiders already knew what the Fed is going to do next week, which is, a NO rate hike during the June meeting next week, and perhaps even hinting an imminent QE4.
Gold and silver has broken out with a big gap-up open on Wednesday, perhaps an indication some insiders already knew what the Fed is going to do next week, which is, a NO rate hike during the June meeting next week, and perhaps even hinting an imminent QE4.
Key support for NQ on Thursday will be 4500, and resistance is 4535.
