NQ1! | Choppy Price Action Ahead of FOMCE-mini Nasdaq-100 FuturesCME_MINI_DL:NQ1!AlchemyMarketsThe Nasdaq has been chopping around inside a tight rising structure, and with the Fed meeting tomorrow, this feels like one of those moments where the market is waiting for a catalyst. I’m leaning toward a short-term correction scenario if the macro tone shifts even slightly. Technical Lens: Price has been moving inside a smaller rising channel, but momentum is fading and candles are getting increasingly indecisive. As long as price holds above 24,000, the broader structure remains intact, but the current chop does hint at a market losing steam ahead of an event risk. Scenarios: If 24,000 holds: the market may simply be digesting recent gains before another attempt higher into the upper bound of the wider channel. If momentum rolls over: a corrective move becomes more likely, especially if a macro catalyst gives the market a reason to rebalance expectations. Potential Triggers for a Correction: The Fed pushes back against overly dovish market expectations, even slightly. The dot plot signals fewer or later cuts, prompting a repricing in yields. Powell comments on financial conditions being “too loose,” which has historically caused tech to react quickly. Catalysts: FOMC statement, updated SEP (dot plot), Powell’s press conference. Takeaway: Price is still respecting support for now, but the combination of choppy price action and a sensitive macro backdrop makes a corrective move a realistic scenario if the Fed leans less dovish than markets expect.