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put in an inside day — the entire session traded inside yesterday’s range. Smallest range of the whole move, and the lightest volume too. That’s what price looks like when the market is standing aside for a scheduled print rather than resolving anything.

Two things worth internalizing from a session like this:

A quiet bar ahead of a scheduled event isn’t a signal. Narrow range on shrinking volume normally reads as sellers drying up. Not here. Volume falls off before FOMC because participants step aside, not because supply or demand has resolved. Don’t assign intent to a bar that’s mechanically quiet.

An unconfirmed break stays unconfirmed until volume shows up. Volume has fallen for two sessions straight since

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broke below 395. A level breaking on fading volume hasn’t been pressed yet — that cuts both ways, and it’s worth respecting rather than assuming the break is done.

Structure: 395.51 is now acting as resistance. Price has printed two lower highs underneath it — 395.90, then 395.31 — and it’s holding without even needing a retest.

Inside days resolve when the mother bar breaks:

Downside trigger: 390.96
Upside trigger: 395.90

FOMC decides which way that goes.

No reclaim of the 395–400 zone, and the downside targets stay 390, 385, 382. A close back above 400 takes the short bias off the table.

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