The Following analysis is the opinion of Optimus Futures www.optimusfutures.com
Consumer confidence hit significant highs last week as the positive effects of the post-election sentiment was still in full swing. Next week, the FED may make an important decision on interest rates, but a rate hike is already priced in by now. The most important fact about the central bank event will be what Yellen has to say about future policies. If the FED expects inflation to pick up significantly, they might raise interest rates faster than anticipated, which could be negative for stocks.
The S&P Emini closed last week at a historic 2060 which was close to the absolute high, indicating significant strength. Price is now in uncharted terrain and traders need to follow momentum and the general market sentiment. The FED decision could be a key event. To the downside, 2210 is a critical support area.