The put/call ratio is not oversold yet:
Since the ES is trading back in the 1165-1180 range, I will assume a move to the lower boundary is in the cards. If it happens and if the put/call ratio spikes down on my chart, I will be a buyer.
I think the GDP report on Friday has to be taken into consideration too. The market may start rising only after this report. This would leave 4 trading days for an upmove into the Fed announcement which seems enough for the market to reach 1200.
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