On Wednesday the stock market initially spiked upward after the FOMC decision, likely as a result of the Fed buy programs, but sellers came in aggressively because the Fed raised interest rate by 75 basis point, bad for the market.
The counter-trend bear market pullback may have ended today and the resumption of the bear market to begin.
Key inflection price level to watch for NQ will be at 11,000. Trading below 11,000 could starts to trigger massive liquidation of the bullish positio0ns that could lead to a large crash.
On the 5-minute intraday timeframe, key price level for NQ for Thursday will be at 11,200, resistance/support level.
