FED DAY IS HERE! $qqq at MAJOR resistance. Today will be a tellQQQ is stuck under the 200sma and a supply zone. WE have used up a lot of the tarriff deals news flow. The market will be looking to uncle Jerome for direction. If he comes in dovish and says the inflation is tempered we could push through into the suction zone.
If he comes in hot and says the tariff war heating up inflation we could get a big pause on the rally. with the QQQ under so much supply this is a logical spot for Powell to dump on the market.
We have the 9ema under if we break under it will trigger a short for me. if we stay above its a leave alone unless we remount the 200sma on the daily chart.
