Now that the Fed meeting on policy decision for march is out of the way the market can now move onto its next phase.
On Wednesday the Fed triggered numerous buy programs to push the stock market upward, but selling kept coming in, with NQ closing just above its important and crucial support at 6850.
A break below 6850 has the potential to trigger massive selling, next potential support is at 6650. Failure to break may trigger some profit-taking rally ahead of the weekend, if so the next resistance is at 6950 then 7000.
With China ready to launch their gold-back petro Yuan, schedule for march 26th, Trump is expected to ratchet up his trade war rhetoric with China on Thursday, a bearish signal.
