The Fed failed to deliver what the market expected on Wednesday, cutting 0.25% instead of 0.50% the market expected. As such, the market sold off hard, both the ES and NQ tested very important support level, which was aggressively bought by some people and bounced.
Key price level support for NQ going forward is 7800 and key price level support for ES is 2960
-- A break will confirm further downside move, NQ next lower target below 7800 is 7600.
-- As long as NQ remains above 7800 we could see NQ trading sideways or rally. Key resistance now is 7940.
