Santa Claus rally or Santa Claus BBQ?

Hello all, the broad market is showing a very potential key reversal signal after last session of bullish candle.
I think most investors are awaiting CPI and FOMC decision or minutes.
If it can break the previous swing high the current down trend is over.
The market will enter a consolidation phase or new bull market depends on the volume.
Two key events:

CPI data today 930am Singapore time.

FOMC statement on Thursday 3am
Will share the charts tonight