This afternoon's FOMC interest rate announcement, and accompanying discussion, will set the stage for the next market move and until then, there is little to be done. The Big Picture is on the cusp of a new leg down, but whether that flows directly from today's news or needs another bull trap rally first remains to be seen. Key levels below current prices remain where they have been for the past few weeks, and breaking through those levels will say more than the Fed can ever say to move the market. So we wait. Look for a late afternoon Alert if and when a new trade sets-up. IWM
