Unlike European markets which are sharply increasing today, the S&P 500 should open in a slight rise of 0.2%.
It had closed up 0.35% at 1568 points, being very close to absolute records during the day.

At economic level, traders are waiting for Crude Oil Inventories at 10.30 am EST, the Federal Budget Balance and FOMC Meeting Minutes at 2 pm EST which should confirm the continuation of asset purchases by the Fed.

Graphically, the S&P 500 is moving within its 1540/1574 points trading range, but the bias remains bullish in hourly data above 1560 points, crossing point of the 20, 50 and 100-hour moving averages.
Reassuring news from the Fed today could allow the S&P 500 to set new records. Under this assumption, a first bullish objective will be set at 1585 points even 1600 points by extension.
Below 1560 points, the lower limit of the trading range will probably be retested.