Tuesday’s price action was predictably choppy after Monday’s selloff. With FOMC on deck for the next couple of days, we don’t expect that to change. The 440 area on the SPY (4400 on the ES), will serve as short term resistance for now, but in truth we’ll wait for a close above or below Monday’s candle to help us determine short term direction. Futures are pointing to a flat-to-green open, and our opening ranges will serve as guides for now, but again, another chopfest would be expected. Day traders: enjoy! Swing traders: Might be a good day for golf. As we move into the FOMC, we’ll also keep an eye on our market internals for clues on direction, such as the ADD, TICKS, and the good old VIX.