Futures are off moderately on the eve of the next FOMC rate decision.

continued for members…

Stocks have rebounded to our bounce target. Any additional upside would run right into a backtest of the SMA200s.

While VX and VIX are resting right on top of channel backtests and could go either way. Note the RSI trendline support.

No one expects a rate change from the FOMC. But, the dot plot could shed some light on their thinking. With the economy hinting at stagflation, it’ll be interesting to see if the Fed acknowledges it.

Currencies continue on trend, with EURUSD threatening a breakout – but unlikely to do so…

…and USDJPY edging toward its SMA200 backtest. CL and RB are slightly higher.

While TNX is essentially unchanged.I remain very cautious.