Our call  in yesterday’s Morning Capsule has turned out to be spot on.

The big money is positioned for the Fed to either not raise rates or raise rates accompanied by an extremely dovish statement.

If big money turns out to be right, expect a mild rally.  The big money will likely sell into the rally potentially causing a sell-off.

After the Fed chickened out and did not raise rates, the stock market went up over 100 DJIA points and then started falling as we had predicted.