Now that the Fed policy meeting for September is over and done, the markets can now trend again. With no change in the Fed policy, as expected, and a back door QE through the BOJ, the stage is set for the equity market to rally, for Gold and Silver market to rally, for crude oil to rally, and the US dollar to decline.
For now, the Fed will continue to use "forward guidance", essentially mean lying to the market participant that they will raise rates. There is no way for the Fed to ever be able to raise interest rate without crashing the market. Although it may be part of the Fed plan to crash the market to usher in the new world reserve currency, the IMF world money called the SDR.
Unless the Fed is going to crash the stock market in order to usher in the new world reverse currency, the SDR, to replace the US dollar, look for the stock market to continue to rally.
On the 5-minute timeframe, key support on Thursday will be 4820.
-- As long as NQ can stay above 4820 the current rally should continue. However, the market may just chop around following a large rally like on Wednesday.
-- If for any reason NQ trade back below 4820, look for NQ to trade back to 4795 support.
