The ES did nothing on the day, and we now have recorded 4 closes that are almost unchanged. This loads the pattern with power for a move after the FOMC decision and press conference Wednesday.

The NQ futures also remain boxed up and loaded with energy. The move away from this area should be decisive when it happens. Technically Tuesday’s close was a new high on the move and right up against the May and July highs.

The 10-day Trin has yet to record an overbought reading.

Multi sector daily chart:

The BTK continues to stage just below the 200dma and 8/8 level. The next overhead is 1281 which will likely also produce a Seeker exhaustion. This is going to be interesting.

The SOX traded inside yesterday’s range so there’s nothing new technically.

The BKX was unchanged and is still above all of the major moving averages. A break away from the consolidation under the 8/8 level should be very powerful.

The XAU was a source of funds and the last laggard on the day. Index member NEM recorded a new year to date low.

Oil:

Gold:

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