The decision in itself will be more straightforward as the Fed is to keep rates unchanged and wrap up QE.

One would think this might be a non-event but given recent market developments, a lot will hinge on whether or not the Fed offers anything for investors to grasp at. It will not take much of a hawkish bend to really get equities riled up again and that could lead to another bloodbath in the making at worst.

Adam put that very well in his earlier post here. And I very much agree with that sentiment.

US futures are holding steadier for now after yesterday's comeback fell short in the closing stages. That is a hint that dip buyers may be losing faith after the Monday miracle and the Fed could be the nail in the coffin.