Photo by Adam Nir on Unsplash

The market is glued to what the Fed will say this afternoon following its monthly FOMC meeting. Despite the volatility and choppiness recently, markets have really gone nowhere. Markets are operating within a very confined consolidation range. Regardless of the Fed's comments today, the result will likely be a directional move to one side or the other. Hawkish comments will likely send markets to the downside, or at least remain within the consolidation zone, but a dovish approach could elevate stocks anew. There is downside risk, but the most-likely result will be the continuation of the consolidation process.

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