Charts Ahead of Fed
The upside action feels panicky today as “bad news” is met with further buying which increases pressure on the bewildered short sellers. The QQQQ is now battling with the DECLINING 200 day moving average and that is a reason to keep tight stops on longs. There is no evidence of selling in the broad averages yet, but with the Fed looming as a big ccatlyst your level of alert has to continue to be extra high. The financials reman the relative laggard but there is no damage to the range it has been in.