Sideways Day Ahead of Fed...

The Dow went sideways today ahead of the FOMC announcement of tomorrow (see economic calendar). A sideways day on this blog is defined as a day with its trading range entirely within the range of the previous day. This is definitely going to be an extremely volatile rest of the week not only because of the Fed announcement but also because of this Friday's Quadruple Withching. The holiday shortened Christmas week coming up next week is only going to add to the volatility this week as some investors speculate on a Santa Claus Rally while some others take quick profit to close the year with. Volatility, volatility, volatility. That's the keyword for the rest of the year as we look forward to the January Effect next month.