Jockeying Ahead of FOMC

The trade today is positioning ahead of the FOMC meeting.  Thus, we are mildly positive on the day.  It appears as if traders want to be leaning bullish now ahead of possible additional quantitative easing.  It does set the market up for disappointment if what is offered is less than expected.  I believe the odds favor the market selling off after the announcement tomorrow.  But, the price action and the strength in the face of bad news on Friday are signs that this market will not fall down much in the near term.