The market finds itself at the intersection in time where an overbought and over bullish rally built on a poor foundation meets the deep pockets of the Federal Reserve.
Many of our indicators are on the verge of going to places they rarely ever go. Extreme is about to get more extreme if prices move higher. We know the Fed is willing to go where it has never gone before, but more importantly, can the Fed push the market into a territory it has rarely gone before? This is what the decision is about today. Will market participants be willing to go along for the ride?
Levels that we previously discussed will be the final arbiter.