US100 is testing strong support level!

The market had priced in the no rate changes, however, the FED members' expectation of one additional hike and keeping the rates high in 2024 created a downside pressure for the markets. Although the record of the FED members' predictions for these matters is very poor, the market decided to use this opportunity for the traditional sell party in September.

NASDAQ is testing a strong support level again. We have huge volume support here. Breaking here means visiting 13600 levels. Having said that, the initial reaction is positive, and OBV and RSI show some bullish signals.

I believe keeping the rates at the same level is a positive sign since it indicates a strong economy. I am expecting a strong rally until the FED realizes that they messed up and needs to cut rates. Then it would be very bloody!




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