Midday Update: 2023-07-26

FOMC an 14:00 and Meta earnings after the bell

S&P 500 futures drifted lower overnight and in the early morning today and are putting pressure on the 4584.75 support level that bears need to break if they want to get the ball rolling in their direction. While I certainly prefer a down swing get started, I can’t guarantee it. While 4584.75 holds, there is still a chance to push upward and try for 461…