The stock market reacted negatively to the Fed statement considering that the central bank may stand ahead of the yield curve and drive the economy to a recession. Breadth closed again on a negative biais : 1040 stocks advanced compared to 2717 that settled down. The list of stocks hitting new lows is horrible. The good news comes from the weekly investment survey among private investors; for a second week on a row, the bull to bear ratio is below 0,50 which historically is associated with a bottom in sight. The stock market may stabilize around the 2500 area before a final selloff at the beginning of the year.