The bulls have one last shot to snatch victory out of the jaws of defeat. It is a rarity when the market follows through the day after the Fed meeting, so if they can close the NASDAQ back above 2150 bulls will remain in the game. As it stands now, bears have the upper hand as seen by yesterday’s trend break.
The S&P on the other hand has not yet broken. The question here is will tech pull down the market or will the broader market lift tech? It is highly unlikely that the two will diverge for long.
If the NASDAQ follows through lower today or fails to recover the trend, the short side of the market will then provide the most probable opportunities.
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