We enter the week with small moves across asset classes. These types of moves on lower-than-average volume will likely be the theme until the key Fed decision on Wednesday. Brent crude, the global oil benchmark is pushing toward $95 a barrel given the outlook for tighter supply. Saudi Arabia and Russia extended cuts this month. Looking at the technicals of the S&P 500, bulls are watching 4,430 as a level of support after Friday's sell-off erased all of the gains for the week. We've been in a volatile narrow trading range for nearly all of September.

Newton scores are still weak. Interestingly, value is edging out growth. Large caps hold a slight advantage over their smaller capitalization counterparts. The short end of the Treasury curve looks relatively more attractive as interest rates climb higher. Health Care and Materials are the highest-graded sectors while Industrials lag the most.

On the economic front: Earlier this morning investors learned that homebuilder sentiment fell to a 5-month low as higher rates are pushing many prospective buyers out of the market. Later in the week, we will get more data on the housing front with housing starts and existing home sales.

The biggest news flow this week in the US is the Federal Reserve's interest rate decision on Wednesday. It is consensus that the Fed will keep rates steady at 5.25%-5.5%. The key thing to analyze will be the Fed's economic forecast, aka the Summary of Economic Projections (SEP). The Fed has been clear as of late that they intended to keep rates high to continue to push inflation down to target. Last meeting, only 6 out of 18 officials thought the central bank was finished hiking.