Update

I was expecting a low today and move higher tomorrow or Wednesday FOMC. Well the low was overnight, the futures dropped 15 points and we have short term low. I expect the move to continue at least until FOMC.
I see two scenarios - the moves continue until FOMC or Friday OPEX and alternate scenario the "Christmas rally" to extend into the next week grinding slowly higher with low volume. Expect lower high the first scenario and new marginal ATH the second one.

Given the strength today and the indicators, the alternate scenario shown in the weekly review with 40 day cycle low on Friday at day 46 looks better.
I think the 20 week cycle is the dominant and we will see straddled-troughs.