ChrisPtaco_32

NDX - Support turns into resistance ahead of the FOMC meeting

TVC:NDQ   US 100 Index
The Nasdaq held the 200 day MA from April until September on the hourly chart. Dynamic support is now acting as dynamic resistance. Ahead of the FOMC meeting, it is make or break time. We have a death cross on the hourly chart which hasn't happened since February. Although, the daily chart is showing support at the 50 MA and resistance at the 20 MA. We are stuck at indecision at the moment. We are in an uptrend and have no technical reasons to really be overly bearish yet. Heading into the elections, which way will the market take us? Only time will tell....Patience grasshopper...
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