Fed day today so I except very low volume till the announcement. Does this leave us clear to edge higher into a Christmas rally? We will have to see, take note of that 1121/3 area as this is the 50% retracement area of the all time highs and the March lows. That area will act as a magnet here on the upside though ultimately we could head higher.
Remember we could go any way here and 1200 is not out of the picture if the signals turn up. If we can't break up on volume we will put in another narrow range divergence and this would make it 5 in the consolidation range.
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