Market Overview - The S&P and NASDAQ reached record highs this week, indicating strong market performance [1] - Anticipation is building ahead of the Federal Reserve meeting, with expectations of market consolidation and potential volatility following the announcement and economic projections [2][4] Technical Analysis - Key support level identified at 6605, with a trading range between 6675 and 6570 [3] - The market is expected to either break out higher or lower based on upcoming commentary from Jerome Powell and economic projections [4] Sector Performance - Various sectors such as materials, energy, industrials, healthcare, and financials are showing positive movement, while regional banks experienced a decline of about 1% [5][6] - Regional banks are currently testing the lower end of their support channel, with a focus on potential upward or downward breakouts [7] Federal Reserve Insights - There are multiple scenarios for the Federal Reserve, including potential rate cuts and lower Fed funds projections for 2026, which could influence market sentiment [8] - The ongoing quantitative tightening and the potential end of mortgage-backed securities runoff at $35 billion per month could significantly impact mortgage rates and regional banks [9][10]