Looking for the S&P 500 to consolidate until after the fed report at 2:15. We almost closed the gap as mentioned in last evenings video. We still have quite a bit of room down but could be looking at some support at the 800 level. Lots of psychological support here. If we break through here we could see the next open gap closed at 775 range.
More volitility could enter the market after 2:00 watch out for the break outs out of low volume consolidation.