The initial fall looks significant to some...but not to me. Both micro 15/60 micro-cycles are looking low, this is not a good level to be short.
sp'15min
Looks like a floor to me on the cycle.
sp'60min
Summary
A fair few out there are getting mildly hysterical at the index declines since the Fed press release, the VIX remains barely green though. That is a pretty lousy reaction, and still warns of a fearless market.
As noted, I'm sitting this out until tomorrow. There is no hurry right now to get back on the short-train.
More after the close.