I really don’t have much to say about the market today. I think all the movement before tomorrow’s 2:15 Fed announcement is nothing but noise. The reaction to that decision is what I’m interested in. Things should get real hectic, and choppy until about 3:00, then we should be able to tell how the market likes what the Fed had to say. The NASDAQ got to within one point of that June 9th low (1,597), and it got very close to that trendline I pointed out yesterday. So there’s a confluence of support points right in this area. Seems like a good set up for a bounce, but the Fed will trump all the technicals.
