Typically we don't have much movement the morning of the FOMC. If we build a long flag, whatever happens may get sold.
I have not paid much attention to P/E's for more than 2-years, so I really have no comment other than they are not relevant until the market bottoms at values that are in line with historic norms.
People playing P/E's both ways will get killed in this market, as fundamentals don't matter.
Market Data 
Markets 
AI
