After a sharp morning decline NQ then traded sideways in a very narrow range most of the day ahead of Wednesday FOMC policy announcement to be released in the afternoon.
NQ is currently in the middle of a wide trading range between 13,860 support and 14,040 resistance, with the middle equilibrium, price level at 13,960, which will be Wednesday line-in-the-sand for NQ.
Bullish above 13,960 wih resistance at 14,040, and bearish below 13,960 with support at 13,860.
A sustained break out of the 13,860 - 14,040 trading range either trigger a fast trending move out of the range, or, if there is a false-breakout, would imply fast reversal.
