Another sideways consolidation type of day today likely due to traders and investors just waiting for the FOMC policy statements release in the afternoon.
Now that's out of the way we could see the market starting to move. The direction of the mover on Thursday will depend on where NQ opens in relation to key line-in-the-sand on Thursday
That key line-in-the-sand is 10,680
-- Above 10,680 we could see short-covering that can trigger a huge rally, up over 200 points. However, failure to stay above 10,680 could trigger a fast reversal down.
-- Trading below 10,680 is bearish and especially so if NQ breaks below 10,600.
