NEW YORK ( TheStreet) -- U.S. equities will be tested this week at record highs as the Federal Reserve meeting and earnings from major technology companies may send stocks lower.Fed monetary stimulus and strong momentum from tech companies have pushed equity markets to record highs in weeks past. The Fed is expected to keep policy accommodative till 2014 due to the consequences of the government shutdown and the slow recovering labor market. The issue is not whether the Fed tightens this week, because it probably won't, but rather, what kind of guidance it will provide. AMZN) and Microsoft ( MSFT) have outperformed expectations and helped the PowerShares QQQ ( QQQ) keep its strong uptrend. FB) and Apple ( AAPL) release their earnings. If they outperform expectations, then there is no reason for a selloff and equities could again close on fresh highs for the week. The technical outlook for the market remains positive. Late last week, the SPDR S&P 500 ( SPY) pushed higher, as pictured below. The move looked strong and helped push the index out of a multi-day consolidation.