11:00 LOOK

The markets continue to meander slightly higher as "all eyes are on the fed." Of course everyone knows about the 25bps increase that is coming but it is the all important fed language that we anxiously await to dissect.

And how bout this just on the briefing.com wires "fed cites significant risks to US including from slowing housing sector." Fed also says "core inflation to remain under some pressure in near term due to higher energy prices."

Thank goodness they are giving us some new stuff that we haven't heard before (lol).

Market internals continue to be bullish with 1k more winners than losers. Winners continue to include Small caps, tech, semis, brokers, homies and retailers. The losers include the oils, metals and drugs.