Decent recovery but FED meeting on tap.

The market sold off yesterday but recovered nicely later in the day. I believe it was a case of sell the news going into the the big tech earnings reports as well as people taking money off the table before the Fed meeting today. Seems to be a pattern lately. Run up into the Fed and then sell off just before. I am hesitant to load up on positions right now. Price is coming into the 4500 zone and the Fed meeting always causes a lot of choppy price action. Will wait to see how things close today. For people looking for an intraday play. China names may offer a bounce today.