The market simply traded sideways on Tuesday ahead of the BOJ and the FOMC policy decision on Wednesday.
Although most market participant do not believe the Fed is going to change policy this time around, selling remains inactive because they do not want to get squeezed by the Fed buy programs, which they are likely going to do after their announcement on Wednesday. Whether or not they can keep deflationary forces under control only time will tell.
Key support for NQ going into Wednesday will be 4795.
-- Trading above 4795 should keep selling under control.
-- Trading back below 44795 is likely to trigger selling, but strong support remains at 4700.
