SNP500 Bullish Range Persists But Watch For The FOMC Meeting

Today we have a FOMC meeting. Federal Funds Rate should remain below 0.25 % and generally I expect a balanced to positive FOMC statement.

If there are any surprises from the market we could see a strong move to the downside as a part of a retracement. That could actually mean a good thing for buyers as we could start searching for long opportunities. A drop in the SNP500 could go towards the POC. 3752-3777 is the zone. If the breakout happens watch for 3981 to the long side towards 4024.