The move which resulted from Tuesday's economic news will make it easier for the Nasdaq to retest July's highs, and the S&Ps and Dow have a decent shot as well.

Toni Hansen cautions against keeping a lot of level IIs or data streams up and running during the Fed announcement, since they can quickly become bogged down and begin to post inaccurate quotes.

Trading was a bit lighter throughout the day and a lot more range-bound. There were some nice setups, but the action was definitely a lot more mixed.

Toni Hansen is still targeting the previous highs from July as resistance for the Nasdaq, but the rest of the market has a lot of moving average resistance that it's going to have to deal with.

Americans' lingering concerns that something, somewhere will go horribly wrong on the anniversary of the September 11 attacks could lead to a rather subdued session on Tuesday.

Most the focus in the market this week will be on the Fed, since there is very little in terms of significant economic data this week.

Toni Hansen would not be surprised if the Nasdaq makes a push for July's highs.

Toni Hansen is still favoring a larger test of resistance from proven highs on the year, and is taking positions in both directions.

Now that the Nasdaq has broken most of its upside resistance levels, it will be easier to retest the highs from July.

The market's slowdown in buying makes it easier for the sellers to take hold.