One Word Best Describes This Market

Quite a few folks, even long-time bears, seem hell-bent on declaring that a sustained relief rally is imminent after the FOMC tomorrow.

While there are some rumblings that The Fed may actually tighten more than the fifty basis points the market expects tomorrow, that is all conjecture at this point (at least for someone like me with no insider information in the least). 

What I can say, and what you would have to admit, is that the market's price action continues to best be described by one word: 

INDECISION

I will leave it to you to say for sure what that means.

However, from my perch when we have indecisive price action below declining 200-day moving averages on ever major index chart, I will defeat to the downtrend virtually every time until proven otherwise.

And that goes triple for markets which have yet to experience classic fear/panic/washout/then apathy in bearish trends. 

More in my recap for Members after the bell.