Wednesday, August 20, 2025

NQ Guideline For Thursday

A sharp sell-off for NQ om Wednesday morning down to key support, then found enough dip buyers at support, and rally into the close.

The Fed will have their annual meeting in Jackson Hole on the weekend. There will be some major announcement, including hinting on a large rate cut in September.

The stock market is in very overbought condition on the daily and weekly time-frame, and that could set-up a large pullback into the year end.  

Key resistance will be at 23,400, bullish above, bearish below it.