As expected The Fed did not raise short term interest rate on Wednesday but is widely expected to raise rate again in June as the Fed continued its tightening in order to save the US dollar, but sacrificing the stock and bond market in the process.
Both the Dow and the S&P 500 came down to retest the crucial 200-day moving average on the daily chart. It looks vulnerable and may break at any time. A break should trigger massive selling that could get5 out of control.
Again, on the short term intraday timeframe, key support for NQ for Thursday is 6600.
-- A clear break should trigger an avalanche of selling, tanking NQ quickly down to 6400 support.
-- If NQ can stay above 6600 we could see another choppy sideways days or a rally.
Beware of stock market Crash
