The markets are waiting for the FOMC Policy Statement at 2:15pm ET. The markets are coming off their worst fall since 2008. While there is a bounce in the markets, traders will wait to hear if anything is mentioned on QE3 or the economy. The more helpful the Federal Reserve says they will be, the better. A solid bounce is hitting the markets today, with stocks ranging from AMZN, AAPL and IBM, all higher. Volume is strong but pausing into the announcement. If the markets flush and take out yesterdays lows, that would market a new wave of selling. If they hold and move above 1150 on the S&P, that would be bullish.
