The stock indexes, after trading erratically for an hour following today's Fed statement, have begun to sell of. There was much debate over the meaning and weight of the Fed's statement. Stock index futures were higher throughout the trading session until the Fed statement. It remains to be seen if the stock index futures will hold onto some of the day's gains from earlier in the session. It appears that the bears are in the driver's seat for the moment, and that the stock market didn't care for the Fed's statement. Many traders received the impression that the Fed will be somewhat weak on fighting inflation for the short- to medium-term future.My long treasury futures trade has been amplified, as investors are fleeing into treasury futures. Go treasuries!
