Fed day

The FOMC meeting is later today and we should see activity drop off somewhat going into the news, be very careful! Yesterday we broke through and closed below the 200 DMA and the market continued to plunge right through the 1100 support area but did hold the support of 1090. The market drop lacked any real news catalyst and everything seems to be technically driven at this point. We had numerous instances of minus tick yesterday adding to our oversold daily CCT which now stands at -218. How oversold can we get? we will have to see if the tick barrage on the downside continues now that we have broken some key supports.