Key level for the SPY

Below is an hourly chart of the SPY showing a gap up above a key resistance level. This move up could cause some short covering. I'll be waiting to see what comes out of the Fed, although they can't really do anything to influence the market. It will manily be their commentary that may make it move. If we do get a positive reaction after the Fed meeting, we could be heading up towards the $93-$94 range.