The theme for this week is Fed Watch for Wednesday afternoon, and an advance look at 4Q GDP on Friday, with earnings before and after the bell all week.
The bulls are working that bottom formation and it will run if they get the breakout. Notice the failure of a similar pattern about a week ago.
This can go either way. It may not give a clear signal until after the FOMC decision, unless 'something happens.'
“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception