DMI-ADX... Patience is a virtue!!
I pulled up a daily chart on the QQQQ with an ADX-9. It shows the end of the bearish down trend at about the 16th of August, and the beginning of a trading range for this index. Notice the candle with a long lower wick on the daily chart, which is a classic indicator of a bottom. Lower prices were rejected and the beginning of an uptrend was in place.
ADX on the daily chart is at 15 which shows no trend in place, currently. The Fed announcement tomorrow will likely trigger a new trend, but I can't predict which direction. Price could move either up or down. Some think a lowering of interest rates will stimulate buying, while others think it will result in a "selling on the news."
We are between support and resistance levels on almost all the charts. This is a scalpers' market. I am in cash and am not trading until I see a trend on the 30" DMI-9 chart. That will be a high probability trade and since I am in the futures, with lots of leverage, I want to make the right decision.
Chico
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