Quiet Move Higher
The equity index complex continues to mark time ahead of the FOMC announcement Wednesday by marking time on both sides of unchanged.
I have scale-up resistance between 1374-1380. If we penetrate and begin to trade this zone, I would look for a choppy quiet trade that tests a daytrader’s patience more than anything else. For the second day in a row, I am not involved other than some small orders at inflection points of the market. I highly recommend doing the same. Volume is running at 50% of normal and volatility has been squeezed to near summertime levels. In other words, keep it close to the vest and stay away from the order screen.