Interest rates: Ahead of the FED

DJ Resistance:  18,351     All-time high
                           18,206     Breakout
                           18,104     2014 high
                           17,810     Important
                           17,579     Very important
                           17,050     Strong
                           16,667    Upper side trading range

DJ Support:     16,210     Light
                          15,980     Lower side trading range
                          15,651
                          15,370

Technical Analysis:
DJIA stayed in the trading range DJ15,980-16,667 waiting for the FED decision. The limits of the trading range are clear. S&P did the same and both indexes are attacking the range top but it seems that the sellers were drawn on the resistance levels. Its technical bias points to the low side barring a close over DJ16,667.
DJIA needs to atop DJ17,579 to show solid chart repairs.

Please click over the chart to enlarge it.

Fundamentals:
The U.S. economy and global economy, specially China, Japan and emerging markets like Brazil are driven the financial markets. U.S.A. is doing well and recovering, summer payroll, retail and construction reports show positive path. Q2 2015 GDP grew 3.7% and consumption did +3.1% in the same period. , that is positive for the stocks but markets don't trust China recovery.
Dear traders and in investors, volatility, up and downside, will continue in the next weeks. Correction has ended? We don't know. It is very hard to time the market. We have to follow the ups and down movement and when we'll have the bottom confirmation we should buy and take the bargains. Right now I don't recommend to chase bargains. Market is expecting FED meeting on 16th. and17th. September and its decision about the interest rates increase. Next meeting are in October and December. Personally, I think the rate increase should be for December if there is.

Good luck, viel Glueck, buona fortuna, buena suerte, bonne chance!
Ulises