3 Big Stock Charts for Tuesday: Dow Jones Industrial Average (DJIA), 3D Systems Corporation (DDD) and SPDR S&P Oil & Gas Explore & Prod. (ETF) (XOP)

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Stocks were mixed on Monday as traders prepare for Wednesday big Federal Reserve policy announcement by withholding any big moves.

While no one really expects another rate hike - to follow on December's 0.25% move, the first tightening since 2006 - the update to the Fed's interest rate forecast and its take on the flow of recent economic data will be closely watched. Simply reducing the number of expected rate hikes this year, which is the default expectation, may not necessarily be a positive for stocks as the January "no hike" decision demonstrated.

As a result, I'm cautious here and have recommended more conservative clients move to cash while more aggressive traders consider short-side/long-volatility plays. For those watching at home, here are three charts to keep an eye on for clues as to where the market is headed next: SPDR Dow Jones Industrial Average ETF (NYSEARCA: DIA ), 3D Systems Corporation (NYSE: DDD ) and SPDR S&P Oil & Gas Explore & Prod. (ETF) (NYSEARCA: XOP ).

SPDR Oil & Gas Exploration & Production ETF (XOP)

Energy stocks have been one of the main drivers of the rally out of the Feb. 11 low - driven by hopes of an OPEC/non-OPEC supply freeze deal. Hopes for that deal have dimmed somewhat lately as Iran continues to demand a return to pre-sanctions output levels, something that will only worsen the global oversupply situation and push inventory levels nearer to "tank tops" capacity.

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If the current uptrend is going to continue, watch for the XOP to punch up and out of four-month consolidation range resistance near $30.

SPDR Dow Jones Industrial Average ETF (DIA)

If energy stocks can break out here, then we should see the Dow Jones Industrial Average , and its DIA ETF, break up and out of an epic topping pattern that started in late 2014. A turnaround here would put support levels between $160 and $155 back in play and risk a violation of the 200-week moving average near $153.

A break of the 200-week MAhasn't happened since 2010 and would call into question the vitality of the post-2009 bull market.

3D Systems Corporation (DDD)

If stocks are going to surge from here, then new long plays should be focused on the few beaten-down areas of the market poised for the best gains on the back of panicked, short-covering buying. DDD shares fit that bill after suffering a massive 94% peak-to-trough decline from its late 2013 high to its January low as the dream of consumer-oriented 3D printing was pummeled by the realities of high prices and limited usefulness.

But over the last three months, shares have more than doubled on a second wave of optimism. Shares gained nearly 25% on Monday after the company reported a Q4 earnings beat and management highlighted increasing orders from healthcare and industrial customers.

Anthony Mirhaydari is founder of theEdge and Edge Pro investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.

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The post 3 Big Stock Charts for Tuesday: Dow Jones Industrial Average (DJIA), 3D Systems Corporation (DDD) and SPDR S&P Oil & Gas Explore & Prod. (ETF) (XOP) appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.