NQ traded sideways on Tuesday, ahead of the FOMC policy decision announcement on Wednesday afternoon. With the markets totally under central banks control, anything is possible on Wednesday.
The Fed is certain to trigger buy programs, however, whether or not the market is going to rally big is yet to be seen. it will depends very much on how much selling occurs after the FOMC announces their .25% point interest rate rise, and the language regarding their plan to reduce their balance sheet.
If NQ selling that started last week Friday is still in progress NQ should tank hard again on Wednesday. failure to do so is an indication NQ is going to rally up to retest its recent swing high
Key inflection price level for NQ on Wednesday will be 5720, acting as support at the close on Tuesday.
