Friday's market was active during the morning session and fairly flat during the afternoon session. The morning hours brought buyers in early trading until selling pressure took over and the market pushed lower. The Dow, S&P, and Nasdaq all closed lower.

US stock futures are trading lower on news of an oil pipeline disruption in Alaska. The disruption is said to cause a decrease in approximately 400,000 barrels of oil per day until fixed. The news has pushed prices of crude oil higher, and will likely impact the market in a negative manner.

Tomorrow is a big day for markets. The FOMC Announcement occurs at 2:15 pm ET. Markets seem to have been pricing in a rate pause, therefore a 25 basis point hike will cause a negative reaction while a pause may still initiate some buying interest. The rate decision will have a large impact on the market, but is also important to pay attention to any comments related to inflation, US economy, employment, etc...

The yield on the 10-year Treasury remains at Friday's levels of 4.91%. Crude Oil is up on the pipeline disruption news mentioned above, trading at 75.98 per barrel. Gold has not been very volatile in the past few trading sessions and now trades at 658.60 an ounce.

Network Appliance, Inc. (NTAP) shows a solid support level at 29.60 on the 3-day, 3-minute bars chart. The stock has touched the level and bounced higher on four occasions. Considering the weakness in the futures this morning, it is certainly possible for NTAP to reach the support level again.

Blue Coat Systems, Inc. (BCSI) has had some hard times the past year or so. The recent activity is no exception. The stock put in a gap to the downside, followed by a sideways consolidation pattern. BCSI broke out of the consolidation pattern to the downside on Friday, a signal of continued selling pressure in the stock.

Andy Swan is co-founder and head trader for DaytradeTeam.com.  To get all of Andy's day trading, swing trading, and options trading alerts in real time, subscribe to a one-week, all-inclusive trial membership to DaytradeTeam by clicking here.