Charting the S&P 500’s bullish-leaning holding pattern ahead of the Fed

Technically speaking, the U.S. benchmarks have established a holding pattern, of sorts, ahead of this week’s policy directives from the Bank of Japan and the Federal Reserve. Against this backdrop, the S&P 500 and Dow industrials have maintained major support, while the Nasdaq Composite has diverged, rising within view of all-time highs.