Nasdaq, Dow and S&P 500 Rise Ahead of Fed Rate Decision

The S&P 500 continues to hang around the 7,600 level. That is an area that had previously been significant resistance and now is offering a significant amount of support over the last 4 or 5 trading sessions. We also have the 50-day EMA there as well. So, a bounce from here and a recovery just means more consolidation.

It will be interesting to watch how this plays out during that press conference. It could be a volatile and bumpy session, but ultimately, the stock market has been rather resilient. The earnings calendar treated us fairly well, and the resiliency of the U.S. economy continues.