Wednesday, January 29, 2020

NQ Guideline For Thursday

On Wednesday NQ gap-up open and rallied into resistance immediately, then drop down quickly before rallying back up.
 
NQ then tanked in the afternoon when the FOMC did not cut short term interest rate. The stock market may have topped and may be ready to pullback down unless the Fed intervene aggressively to keep it up.
Image result for fomc no change
NQ closed just above key support for Thursday, 9080, setting up potential selloff day on Thursday if it opens and stay below 9080. Critical support is 9010 as trailing stop-loss congregates just below 9010
 
NQ has to stay above 9080 to keep selling from getting out of hand.