Here is a 30 minute bar chart of recent e-mini day session trading. Contrary to my expectation this morning's fast up move out of yesterday's narrow range now looks like a fake out - an Emily Litella, "never mind" moment. The fact that the rally stalled at exactly the spot where it equaled the last rally on the way down was the first warning (purple dotted rectangles). After the Fed news volume expanded dramatically on the down side instead of contracting as it would during a reaction. This was the decisive consideration.
I know think that the reaction from last week's high at 953 is not over and that it will carry the market down to 870.