Another sideways narrow-range trading action for NQ on Thursday. With central banks meeting in Jackson Hole this weekend, the market may just chop around as most institutional fund wait for more direction from the Fed regarding their monetary policy
As such, look for the market to continue to trade sideways until the news from the Jackson Hole meeting has been analysed by the majority of the market participant.
The market is bearish unless the Fed announces a more aggressive easy money policy.