NQ sold off hard after the Fed announced their policy decision at the end of their two days meeting but the end of the day buy program pushed NQ back to close above key price level, 5720.
Although NQ closed above key support price level of 5720 it closed negative for the day on Wednesday, thus setting up a strong selling down day for Thursday. Because the stock market is heavily manipulated by the Fed, anything is possible on Thursday
-- If NQ can stay above 5720 selling should remains under control. If so, NQ either trade sideways or rally.
-- However, if NQ get pushed back down below 5720, selling could get out of control. The first downside target is a retest of last week Friday swing low of 5643, and the location of its current 50-day moving average on the daily chart. That level should serve as a strong support level, so a clear break could trigger massive algorithm selling, and tank it down hard.
