Wednesday will be an interesting day because the FOMC will be announcing their monetary policy going forward.
We all know that the Fed does not have any good options left. The have put themselves into a corner. With high inflation and the need to continue to liquefy the financial system to avoid catastrophic collapse, we shall see which course of action they will take.
It is very likely the Fed will be ready with massive bug programs after the decision announcement. Will they be able to rocket the market with their buy programs, only time will tell, and anything is possible.
Key level to watch for on Wednesday especially after the announcement is 15,550 key support and 16,450 key resistance. A sustained breakout of the range could cause a strong trending move out of the range.
