NQ simply traded sideways on Tuesday in a narrow range inside of prior day range, an inside day ahead of the FOMC decision on Wednesday. An inside day is often a setup for strong trending breakout day.
Many investors may be waiting for the tone of the FOMC policy announcement on Wednesday afternoon before making their big decision. A very dovish tone could set up a multiday rally. A hawkish tone could trigger heavy selling
Key inflection price level for NQ on Wednesday will be 6520, with first resistance at 6560, and first support at 6460.
