The stock market looks set for a lower open on Monday, with investors already eagerly awaiting the Fed’s decision.

Nasdaq 100 Futures (NDX:IND) -1.1%S&P futures (SPX) -1% and Dow Futures (INDU) -0.9% are all lower.

The S&P has broken below the support at 3,900 level on Friday.

“Over the past three years, the level on the SPX with the largest volume traded has been 3,900,” wrote BTIG’s Jonathan Krinsky. “It closed below Friday for the first time since July 18, which we believe opens the door to June lows (3,640).”

“While it’s probably not a straight line, we still haven’t seen any panic in the VIX curve (VIX) and the monthly RSI has yet to drop below 46 in this cycle,” he said. -he declares. “1987 is the only ‘bear market‘ in the last 90 years that has not reached a monthly RSI below 42. There are areas that do work, but they are mostly in the low volume defensive arena. These domains typically outperform until the bear market hits its final bottom.”

There are no economic indicators on the calendar this morning.

The 10-year Treasury yield (US10Y) is stable at 3.45% and the 2-year yield (US2Y) is little changed at 3.86%.

All S&P sectors are down pre-market, with energy the most down as crude drops below $84 a barrel.

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