The stock market sold off after the Fed decision was announced on Wednesday, not a bullish sign. Now that the Fed decision is out of the way the next announcement to watch for is the ECB announcement on Thursday.
With everyone bullish on the stock market, and with everyone long the stock market, any hint of ending their QE by the ECB could end the current equity market rally, and begin the decline. With everyone long the market, lack of buyers could cause a fast decline.
Key support for NQ on Thursday is 7230.
-- Bearish below 7230, lower support is 7200
-- Bullish above 7230.
