Market Outlook NDX for Sep 18th '07

Dominant TF: 60mins
Swings: DN-UP-UP
Market direction: undetermined.

60mins:
The recovery stopped a couple of days ago on 2000 which is not a major Fib level (at this time frame), but is a major psychological MM level. NDX then fell a little to between a PR1 at 1981 and and MM intermediate level at 1984. AdStoK and Entropy are now somewhat pointing down. AdStoK is around the median zone with a negative gradient.
After the Fed announcement today, it can certainly go both ways, but there is certainly a negative bias ahead of the news.

Daily:
Would there be no imminent news, the most likely scenario ahead would be upward bias conditional to passing the resistance level. With Entropy coming down, it seems NDX will have no momentum left to break 2000, so a
Possible range: 1980 to 2025, then 2025 on the up side... or around 1945 on the down side....

Weekly:
No clear direction ahead of the Fed announcement. There is some minor upward bias left, but it could just as well be a return to the bullish trend than a double top...
This time frame is not very significant right now, so one should take cues from the 60mins chart for now.