I have no clue whatsoever about how market will react to whatever Fed say today. I am 100% sure that whatever price action unfolds will be attributed to whatever Fed say today. I continue to completely disregard any theories about cost and effect of QE, including their current operations and/or future plans, regardless of whatever Fed say today. Based on price action in US Treasuries, my profits in TBT and $TYX up 39% since summer 2012 - Fed lost control of at-least long term yields and bonds are in bear market, making whatever Fed say today irrelevant.
Internal indicators show relief of overbought conditions across the board, no apparent divergences. All advance-decline studies show rising bottoms, will levels at or around zero. There is definitely room to upside. TTheory Volume Oscillator seems to have at-least short range T with projected peak 2-3 weeks away.
I was comparing My A/D Indicator based on NYSE vs usual Nazdaq - it seems that $NYAD gives cleaner signal with less whipsaw around zero level. It just crossed 0 going up.
I am fully prepared to see market completely collapse here. It will cost me some, but I know what to do, and I know how big rewards are when I do it right. Watch