Nasdaq 100 exhausted buyers, FOMC eyed [Video]
|US100 climbed as much as 12,276 today where it has found supply again. Now, it has retreated and is trading at 12,711. After its strong rally, temporary retreats are natural. Today, the FOMC could be decisive and could force the index to register sharp movements tonight. As you already know, the FED should increase the Federal Funds Rate by 25 bps again.
Technically, the US100 index reached a supply zone and failed to reach and retest the median line (ml) signaling exhausted buyers. Personally, I’ve drawn a descending pitchfork hoping that I’ll catch a new sell-off. The upper median line (uml) stands as a dynamic resistance.
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