Afternoon Update

While the indices are off their lows, there still hasn’t been much of a rush to buy the weakness with the FOMC decision looming on Wednesday. SP-500 -3.75%, Dow -2.75% (Transports -3%), NASDAQ-100 -4.45%, Small Caps -4.75% Mega-caps and the S&P equal weight index were trading about even earlier this afternoon, which was surprising given…