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.'
"Some people see God as they see a cow, and love Him as they love a cow — for the milk and cheese, and the profit it brings. This is how it is with people who love God for the sake of worldly possessions or inward comfort. They do not truly love God when they love Him for their own advantage. The eye through which I see God is the same eye through which God sees me; my eye and God's eye are one eye — one seeing, one knowing, one love.”
Meister Eckhart, Predigten und Traktate