S&P 500 falls back below the 200-day moving average at the open

Stocks edge lower after 32-point rally Friday

The S&P 500 opened 6 points lower to 2016, just below the 200-day moving average, which clocks in a 2019 today.

The traditional thinking is that the market will be hesitant to make a big move ahead of the FOMC on Wednesday but time after time, there's a bleed higher ahead of the Fed.