Now market participants are saying that investors should expect range bound trading to continue into next week when the Fed makes its interest rate decision.
This could be the make or break week for U.S. indices and determine the path of the markets into the spring months.
Clients remain largely bearish of U.S. indices on the whole but a good start to the week by Asian and European stocks means the U.S. futures point to a positive start.
The first week of January is historically a positive week for equities.
It looks like the market will be focused on the interest rate cycle this week and finish off with non farm payrolls on Friday, so many market participants are expecting this week to determine the direction of U.S. indices for the remainder of the year.