The Fed did not raise its short term interest rat on Wednesday, qand promised to not cut interest rate for at least two years.
The Fed is stuck between two bad options. Iyt needs to keep raising interest rate to prevent the dollar collapse. However, keeping interest rates high would kill the US economy. The pain from collapsing US dollar which will take the G7 currencies with it would be far greater.
As such, we can expect the Fed to keep raising its Fed Fund rate in the future
For now, the stock market may be in its final stage of short-covering, and it should end soon.
Key intraday support for NQ on Thursday will be at 14,975, bullish above it, bearish below it.
