Last week was strong as stocks staged a comeback following favorable updates on inflation and a slew of companies at various analyst conferences. September is known as the worst month of the year for stocks. While all three Wall Street benchmarks are still slightly lower for the month, last week's rally pushed the S & P Short Range Oscillator back up toward an overbought market condition. The wildcard this week is the Federal Reserve's latest meeting.
The market odds, according to the CME FedWatch Tool , are 50/50 — split right down the middle on whether central bank policymakers will cut a quarter percentage point or a half percentage point. The current range for the fed funds overnight bank lending rate, which is what everyone is referring to when talking about cutting interest rates, is 5.25% to 5.5%.
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