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[OEXCHAOS]

Ahead of the FOMC decision tomorrow morning, the banks are moving in anticipation of a rate hike that is expected to improve-- perhaps significantly-- their net-interest profitability.

Be that as it may, Bank of America Corporation (BAC) remains poised to enter a new upleg off of its Aug-Sept spike lows in the vicinity of 14.60, and to emerge from a larger, near-2 yr sideways, bullish-digestion period, the result of which, has the potential to thrust BAC to 19.50-20.00, in route to 23.00-25.00, thereafter.

If BAC pulls back to 17.00 before Fed time, I will look to enter a long position.

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Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!