By Paul Cherney The FOMC meets on Tuesday and Wednesday and there could be another day of hesitation on Tuesday.
Tuesday has the same potential as Monday did to produce a market which really doesn't move very far in either direction.
The Nasdaq finished Monday's session in a test of immediate resistance which is 2046-2084 with a focus of resistance 2052-2075. The next resistance is the 2100-2187 area.
The S&P 500 has drifted below the lower edge of its closing support of 1228-1219 area.
The index has well-established support in the 1212-1184 area. Immediate (intraday, representing ultra-short-term) resistance is 1233-1240, but the next level of well-organized resistance is 1241-1277 with a focus at 1241-1263. Cherney is Market Analyst for Standard & Poor's