Inflation has moderated enough for the Fed to take a wait and see approach on further rate hikes, but probably not enough for them to pivot from their message of higher for longer, notes Willie Delwiche. He discusses the bull market behavior checklist. He previews the FOMC decision announced today at 2pm ET and the Jerome Powell press conference at 2:30pm ET. He looks at the T-note yield level and long-term trend, as well as the NYSE and NASDAQ 52-week new highs and lows. He then goes over the earnings revision trend and the S&P 500. Tune in to find out more about the stock market today.