Posted 9:30 AM ET - The Market is trading in a downward sloping channel and it has been below major moving averages for most of the year. This is a sign of steady selling pressure and the news over the weekend was generally negative. All eyes will be on the FOMC this week as the Fed prepares to hike rates. Inflation has far exceeded the Fed’s forecast in terms of magnitude and duration. They are way behind the curve and supply disruptions will continue for many months. I believe that a 25 point basis rate hike will have a positive initial …