Markets are holding their breath. Stocks keep pushing toward record territory, but there's a massive asterisk hanging over everything—the Federal Reserve's next move.

This week could reshape the entire narrative. Traders have been riding high, almost too comfortable with the rally. Yet the central bank's decision might inject volatility nobody's pricing in right now. Are we looking at a hawkish surprise? Or will policymakers stick to the script?

The tension is real. Equity bulls want confirmation that the easy-money era isn't completely dead. Meanwhile, bears are sharpening their claws, waiting for any hint of tightening that could trigger a correction.

Watch the data drops, watch the press conference tone, watch how quickly sentiment can flip. Because when the Fed speaks, markets listen—sometimes painfully.