Levels To Watch Ahead of FOMC Policy Statement

ES-- Heading towards the FOMC Policy Statement (2:30 pM ET), and Powell's next high-wire act (aka his press conference at 2:30 PM ET), my technical perspective and Bottom Line for the reaction to the Fed is the following (see Daily Chart below): 

As long as any acute price weakness is contained in or above key support at 3747 to 3757, my pattern and momentum work argues for another upleg that propels ES above 4000 prior to the conclusion of the post-10/13/22 counter-trend rally period.

Should whatever the FOMC and Powell have to say trigger an SUSTAINED negative algo reaction that slices beneath 3747, ES will become increasingly vulnerable to a full-fledged retest of the October low-zone at 3550 to 3500... Last is 3861.00

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