On Wednesday, ahead of the FOMC decision the market slowly continued to rally in a choppy slow manner, liekly just from short-covering because most traders and investors are already long the market, there is no more buyers.
NQ is slowly approaching extreme overbought on the daily time-frame, but on all time-frame, everything is still pointing to the bullish side. The FOMC did not change any of their current policies. With Biden sure to be the next US presided the flood gate is wide open for massive money printing.
With central banks still has an effective control on the gold and silver manipulation scheme, look for Bitcoin to lead the charge higher, on Wednesday breaking above 20K. If global central banks fail to control bitcoin rise, the paper money regime will collapse much quicker that everyone think is possible.
On Thursday, with NQ in overbought zone on the intraday 5-minute timeframe, look for possible pullback in the morning before rally again, as long as any pullback does not break key intraday support, on Tuesday will be at 12,570
