3pm update - closing hour weakness?

So....the Fed do nothing, as expected. Market drops 50 dow pts on the news...rallies to evens...but is slipping again. This is kinda muted action though, and the VIX sure ain't saying 'panic!'

The bears once again have a six week window until the next FOMC of Thur' Sept'13th. Even a mid-way target of sp'1225/00 is an awful long way down right now.


sp'60min

vix'60min

Summary

Most notable, the VIX remains very weak. There is ZERO sign of concern in the market this afternoon.

Lets see if we can at least close marginally red.

More after the close