Off the Charts

The market opened on a positive note today and trended higher in a very quiet session ahead of the Fed decision tomorrow. Yesterday the market wasn't able to build on its large gap up, but today's gains help negate some of the short-term bearish influence of yesterday's candlestick. The Nasdaq bounced back strongly today after slipping yesterday, finishing up 0.75% while the S&P tacked on gains of 0.42% as it remains a stone's throws away from all-time highs of 1709.

The much-anticipated rate decision will obviously have a huge say in short-term market direction. Consensus seems to be that the FOMC will start to reduce the QE pace of purchase, but the question is how much? Many now expect the Fed, despite the market sitting just off all-time highs, to show restraint with a first taper of $5 billion to $15 billion. The market often tells you something, and right now the bullish price action could hint a "token taper" is coming. However, we will watch the price action closely over the next few days for clues....432 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.