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Hickey and Walters (Bespoke) submit: Investors are hoping that following today's meeting, the Fed will either do or say something to soothe investor fears regarding the turmoil in financial markets.

For the bulls sake, let's hope the Fed does not use the Dow as a proxy for the stock market. Since their last meeting on June 28th, the index is actually up!

click to enlarge
dow since last fed meeting

Source: Dow Actually Higher Since Fed's Last Meeting