Significance of Yesterday's Market Action

We saw the market inch up yesterday on low volume and close at the highs. This could be looked at as positive market action. It was actually one of the lowest volume trading days (non-holiday) of the year and what that means is that there was little participation by the big institutions. The fact that we traded higher leads me to believe that the market will most likely go higher, still, before any significant sell off. The reason I say this, is that with little institutional participation, that could indicate that the big boys are holding some longs and they want to let the public drive up the market to a better level where they can then sell it off. That's just a theory, it could also be attributed to caution ahead of the FOMC meeting today. Perhaps in relation to yesterday's inaction, we will see more volatility after today's announcement than we have seen at some of the recent FOMC days...