The futures are up some this morning, which is looks like chop the day before any FOMC meeting. I don't think there will be too much downside as this smells of a bear squeeze tomorrow as the Fed try to look like a hero again. My best guess that the market is consolidating today and tomorrow we go up again and make another new all time high. Remember that the FP on IWM has not yet been hit, and the NYA is really trying hard to take out its prior all time high from January of 2018. Therefore I don't think the bulls are done yet. I'll keep this post short but I'll be looking for a long into the FOMC as a rally up is very likely in my opinion. Have a great day.
