It appears the fix is in!
The financial world eagerly awaits the big Fed announcement tomorrow. Clearly it's an ultra-sensitive issue, as the slightest hint that maybe the Fed could possibly reduce its QE program has sent global stock markets sharply lower in recent weeks.
But if you look at the U.S. stock market it appears, at first glance, like we are ready for another bullish breakout!
We have moved above the recent June high (horizontally) and above an intermediate-term downtrend line (green). We look like we want to put in a new MACD buy signal (blue circle). The RSI appears to be making new highs (orange line).
But the volume is anemic. Only about 1/3 of the volume that's typically traded by this time (halfway through the day, as I write this). The price chart of the S&P 500 looks beautiful but, as they say on Wall Street: "Volume…