A very narrow range sideways trading pattern for NQ on Wednesday. There was barely any noticeable reaction to the FOMC policy statement on Wednesday simply because everyone know the Fed was not going to do anything.
Choppy narrow range trading pattern should continue into Thursday and Friday simply because everyone is now long the market and no one want to get off the trade because they are just waiting for the Fed to continue buying the market, and pumping liquidity into the system knowing the economy is going into recession very soon, and hoping that by flooding the market with counterfeit credit they can avoid a recession.
Trading range for NQ on Thursday will be 5595-5600 as support and 5625-5630 as resistance.
U.S. Auto Sales Plunge Dramatically As The Consumer Debt Bubble Continues To Collapse. Every single major U.S. auto manufacturer missed their sales projections in April.
