Is the news already sold?
I have seen at least 10 blogs, on caps, on yahoo, seeking alpha, etc saying that the "sell the news" type of event will happen. Not only do fed days end up almost every time (hence, news is not baked in), but I have seen more "sell the news will happen" than "the news is not baked in yet" blogs/posts/comments. Everybody is expecting a sell off, therefore it can't happen. Unless Ben does something reallllllly crazy that would have tanked the market regardless of if it ran up or not