The equity market continued to selloff ahead of the FOMC meeting this week. NQ sold off in a narrow range choppy fashion for the second day in a row on Monday.
The market has priced in a NO rate raise on the next FOMC meeting, unless the Fed announces new QE program the stock market summer selloff may have just begun. If so, look for the stock market to selloff into in summer and into the end of the year.
On the short term timeframe, key price level for NQ going into Tuesday will be 4430.
-- Selling to continue below 4430, next support is 4400.
-- Selling should be under control above 4430.
