The stock market is rapidly losing momentum, with the S & P 500 up over 1% and the Cboe Volatility Index dropping to around 23 from a high of 35. The 14-day relative strength index (RSI) is at 42, indicating it is the lowest RSI reading for the S&P 500 on a Fed decision day since March 2025. This is not expected to be followed by a short-term pop, as the Fed is expected to keep its overnight lending rate steady. However, many across Wall Street are expecting a significant decline before the market resumes its upward trajectory.